Stay safe this holiday season

The holiday season brings joy, celebration, and unfortunately, an uptick in online scams. As Canadians rush to find the perfect gifts, book travel, and connect with loved ones, cybercriminals are working overtime to exploit the festive frenzy. This year, arm yourself with knowledge and keep your holidays merry and bright—not marred by fraud.

Why scammers love the holidays

The weeks leading up to the holidays create the perfect storm for scammers. We're busier, more distracted, and making more online transactions than usual. We're also more likely to click on unfamiliar links promising incredible deals or urgent delivery updates. Scammers know this, and they're counting on it.

The numbers prove it: BMO's financial crimes unit found that fraudulent online transactions surged by 51% during the 2024 holiday shopping period compared to the previous year. With Canadians losing over $638 million to fraud overall in 2024 according to the Canadian Anti-Fraud Centre, the stakes have never been higher. But with the right precautions, you can protect yourself and your loved ones.

Common holiday scams to watch for

Fake shopping websites: that too-good-to-be-true deal on the latest tech gadget? It might be exactly that, too good to be true. Scammers create convincing replica websites of popular retailers, complete with stolen logos and professional designs. You place your order, provide payment information, and receive nothing in return except a compromised credit card.

Phishing emails and texts: expect a flood of messages claiming to be from delivery companies, retailers, or even charities. These phishing attempts often create urgency: "Your package is delayed. Click here to reschedule" or "Confirm your order immediately!" One click can lead to malware installation or credential theft.

Social media marketplace scams: Facebook Marketplace, Kijiji, and other platforms see increased activity during the holidays. Scammers post items at attractive prices, request payment through untraceable methods, and disappear. The reverse also happens, fake buyers send fraudulent payments and request refunds to different accounts.

Charity fraud: the season of giving brings out generous hearts and criminals who exploit them. Fake charity websites and callers impersonate legitimate organizations, pocketing donations meant for those in need.

Your holiday safety checklist

Verify before you buy: before making a purchase from an unfamiliar website, do your homework. Ensure the website uses encryption. Look for a tune or padlock icon in the address bar and click to view site information to ensure the connection is secure. Search for reviews from independent sources, not just testimonials on the site itself. If the website was created recently or has numerous spelling errors, that's a red flag.

Use secure payment methods: credit cards offer better fraud protection than debit cards or e-transfers. Avoid wire transfers, cryptocurrency, or gift cards as payment methods as these are nearly impossible to trace or recover. For marketplace purchases, use the platform's built-in payment system when available.

Enable multi-factor authentication: add an extra layer of security to your online accounts, especially email, banking, and shopping sites. Multi-factor authentication (MFA) means that even if someone steals your password, they can't access your account without the second verification step.

Think before you click: hover over links before clicking to see the actual URL destination. Be especially wary of shortened links. If you receive an unexpected delivery notification, go directly to the courier's official website rather than clicking the link in the message.

Monitor your accounts: check your bank and credit card statements regularly throughout the holiday season. Enable transaction alerts so you're notified immediately of any charges. The sooner you catch fraudulent activity, the easier it is to resolve.

Protect your personal information: legitimate companies will never ask for your SIN, full credit card number, or passwords via email or text. Be cautious about what you share on social media too, details about your holiday plans or purchases can be used against you.

Shop on secure networks: avoid making purchases or accessing sensitive accounts on public Wi-Fi. If you must shop while out, use your mobile data or a VPN (Virtual Private Network) like TELUS Online Security to encrypt your connection.

If you've been scammed

Act quickly. Contact your bank or credit card company immediately to report fraudulent charges. Change passwords for compromised accounts. Report the scam to the Canadian Anti-Fraud Centre and file a report with local police if you've lost a significant amount.

The bottom line

The holidays should be about creating memories, not dealing with fraud. By staying vigilant, questioning deals that seem too good to be true, and following these safety practices, you can shop, give, and celebrate with confidence. Remember: when in doubt, slow down. Scammers rely on rushed decisions, and taking a moment to verify can save you significant headaches.

Stay safe, stay smart, and have a wonderful holiday season.