Tricks to Avoid Financial Fraud During Holiday Season ~ The International Finance

Wednesday, 20 December 2017

Tricks to Avoid Financial Fraud During Holiday Season

With the busiest holiday season roundthe corner, let us tell you that it wouldn’t really be prudent on your end to concentrate solely on shopping. Financial fraud remains one of the biggest perils of the busy shopping season and buyers at large should be extra cautious to avoid such vagaries at any cost whatsoever. Today, in the course of the post we will document a series of ways with the help of which you can actually go on to make the most of safe shopping this holiday season. So, do read on in order to be duly guided.

Know How the Market Functions During the Holiday Season

Know the facts at first. As per recent estimates, 2017 is well poised to become one of the significant years in terms of retail earnings. As per MarketWatch, 2017 is all set to emerge as the second best season post Recession in terms of shopping. Even the findings of a Deloitte Survey will give retailers more reasons to cheer for. As per the survey, holiday shoppers are willing to purchase 15 gifts on an average and spend around $228 more per household this year only! So, with the increased number of potential shoppers, you can expect potential mayhem around. Not only will the genuine retailers look forward to beefing up stocks, some fraudsters are also expected to join the bandwagon in the hope of pulling off major heists this crazy season. So beware and be on your guard against being floored by posers masquerading as genuine retailers. This holiday season you should be more cautious about checking credentials than ever.

Stay Up to Date with your Credit Report

One of the best ways in which you can detect fraud activities in your account is by keeping up with your credit report. Experian, Equifax and TransUnion are three major credit bureaus that grant you a free credit report each year. Do avail this report and if you spot an unfamiliar creditor, make sure you are acquiring more information about the same without fail.

Online Purchases should be Fiercely Safeguarded

Make sure that you’re resorting to infallible security measures while making onlinepurchases. Cases of online financial scams are rampant. While you may think of using EMV chips let us tell you that though they provide protection against card data infringement, they will not really safeguard e-commerce purchases. Do educate yourself about safer alternatives including Apple Pay, and Visa Checkout.

It is extremely important on your end to protect your CID code. Your Card Identification Number is more vulnerable to prying eyes during the holiday season – thanks to the increased diligence of the fraudsters.

Beware of Instant Savings!

Don’t be too overwhelmed by Instant Savings Discounts. If you are too eager to avail the instant credit offers then you will not really be doing much favor to yourself quite simply because of the fact that these credit card offers often become a means to trigger identity theft. Do not provide your personal details to salespeople verbally and exercise due caution while filling out paper forms as well.

About Author

Amit Singh is a founder of he share his immense knowledge of Finance in this blog.


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