KEEP SAFE THIS FESTIVE SEASON

THE festive season is a time of joy, generosity and celebration. Unfortunately, it is also a prime time for scammers who take advantage of the holiday rush to trick people into giving away their personal information or money. With an increase in online shopping and festive spending, it is crucial to be vigilant and protect yourself from financial scams.

Unsolicited communications
One of the most common tactics used by scammers is sending unsolicited emails, phone calls or messages offering deals that seem too good to be true. These messages often contain links to fraudulent websites designed to steal your personal information. Be wary of any communication that you did not initiate, especially if it asks for sensitive information like your credit card number or personal identification number. Always verify the authenticity of the sender before clicking on any links or providing any information. If you receive a suspicious email, do not reply or click on any links. Instead, contact the company directly using a phone number or email address from their official website. This simple step can prevent you from falling into a scammer’s trap.

Use secure payment methods
When shopping online, ensure that you use secure payment methods. Credit cards offer more protection against fraud than debit cards or wire transfers. Many credit card companies have robust fraud detection systems and offer zero liability for unauthorised charges. Additionally, consider using payment services like PayPal, which provide an extra layer of security by acting as an intermediary between your bank account and the seller. Avoid making payments through unsecured methods, such as bank transfers or prepaid cards, as these are difficult to trace and recover if something goes wrong. Before entering your payment information on a website, ensure that the site is secure by looking for a padlock icon in the address bar and checking that the URL begins with “https://”.

Phishing scams
Phishing scams are a prevalent method used by fraudsters to steal personal information. These scams often come in the form of emails or text messages that appear to be from legitimate sources, such as banks, online retailers or payment services. The message may claim that there is an issue with your account and ask you to click on a link to verify your information. To protect yourself from phishing scams, never click on links or download attachments from unsolicited emails or messages. Instead, visit the company’s official website by typing the URL directly into your browser. Be wary of any message that creates a sense of urgency or pressure to act quickly, as this is a common tactic used by scammers.

Monitor your financialstatements
Regularly monitoring your bank and credit card statements is an essential step in protecting yourself from financial scams. By keeping an eye on your accounts, you can quickly spot any unauthorised transactions and report them to your bank or credit card company. Many banks offer mobile apps that allow you to check your account activity in real-time, making it easier to detect and respond to fraudulent activity. If you notice any suspicious transactions, report them immediately to your bank or credit card company. The sooner you report the fraud, the better your chances of recovering the lost funds and preventing further unauthorised charges.

Protect your personal information
Protecting your personal information is crucial in avoiding financial scams. Be cautious about the information you share online and with whom you share it. Avoid posting sensitive information, such as your full name, address or phone number, on social media or public websites. Use strong, unique passwords for your online accounts and enable two-factor authentication whenever possible. When disposing of documents that contain personal information, such as bank statements or credit card bills, make sure to shred them to prevent identity theft. Additionally, be cautious about sharing personal information over the phone, especially if you did not initiate the call. Scammers often pose as representatives from legitimate companies to trick you into providing your information.

Stay informed about common scams
Staying informed about common scams and the tactics used by fraudsters can help you avoid falling victim to them. Many organisations, such as the Royal Eswatini Police and banks, regularly publish information about current scams and how to protect yourself. By staying informed, you can recognise red flags and take appropriate measures to safeguard your finances.

Trust no one
When something is too good to be true, it usually leads to a scam. Avoid good samaritans who purport to help you skip the queue and expedite your purchases. Avoid giving money to individuals who claim to work for the shop or company unless verified by the company. Most people lose money during the festive season because they are not patient enough to wait in line and queue. Street deals will more often than not leave you scammed; keep all your purchases confined to reputable retailers.

Conclusion
The festive season should be a time of joy and celebration, not financial stress and loss. By being vigilant and taking proactive measures, you can protect yourself from financial scams and enjoy a worry-free holiday season. Step into the festive season with vigilance.

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