With the current pandemic, online shopping is perhaps more popular than ever this holiday season. And unfortunately, so are online scams.
“With the holiday season in full swing, we must remain watchful for scammers and bad actors looking to steal our personal or financial information,” Michigan Attorney General Dana Nessel said in a prepared statement.
This doesn’t mean you have to avoid browser buying altogether. The key is to be aware the threat exists and know how to recognize the signs of an online scam.
Be Careful of Social Media Ads
“The Better Business Bureau reports the most common place to find sites selling counterfeit goods is on social media, particularly Facebook and Instagram, which share the same ad network,” according to a Michigan Attorney General’s Office consumer alert.
If you click on an ad, Facebook experts advise to check the website the ad takes you to. This means you should check the actual URL in the address bar. For example, if you are clicking on an ad for ABC Home Goods, the URL linked to the ad should be abchomegoods.com or match the official website of the company. Criminals will often go as far as mimicking the websites of household names to make them look credible. So even if the website looks like your favorite store (company logo and other aesthetics), you must verify the URL.
If Possible, Use Credit Instead of Debit
The Attorney General’s Office recommends using one single, low-limit credit card to make all online holiday shopping purchases.
“Debit cards do not limit your liability for fraudulent charges, and the money is drawn directly from your bank account,” states a consumer alert.
Although I would typically advise against putting all purchases on credit and accumulating debt, use a credit card for online shopping instead of your bank card for security reasons. Then simply pay off the credit card charges with the money you would have used on your bank card.
Beware of Shipping Scams
If you’re making a lot of online purchases, you probably have a lot of tracking numbers to monitor on top of everything else you’re trying to juggle during this holiday season.
One common scam, according to the Federal Trade Commission (FTC), is for online criminals to send an email or text saying you have a package ready. The message will instruct you to click on a link to sign in and schedule delivery. The link then takes you to a website prompting you to share some type of personal information such as passwords, credit card numbers, or even your Social Security Number.
If you receive a message like this, contact either the merchant or shipping carrier directly by phone and confirm the message is legit.
Also, good rule of thumb for any online shopping is to never provide any personal information like Social Security numbers and birthdates. That should throw up an immediate red flag as no merchant should ask for that type of information.
About Michigan FHA Lender, Julie Krumholz
With 35 years of industry experience, Julie Krumholz has worked in nearly all aspects of mortgage banking.
Throughout the years she has worked in processing, closing and loan origination, underwriting, QC auditing and has even co-owned a mortgage brokerage firm.
If you are looking for an experienced FHA Lender in Michigan, call Julie from Superior National Bank today at: 586-382-5482 and let her help you navigate through the loan process and answer any questions you may have.
