Santa doesn’t need your social security number

I wish I could take credit for that headline, but I originally saw it in this Federal Trade Commission post. I loved it because it really clarifies what happens as we close in on the end of the year. Not only is this the traditional time for food, fun, family, and more, but the holidays are also a tough time. That’s why I wanted to give you 4 holiday scam tips. Whether you forgot to get a present for your Great Aunt Maude or you want to give a little extra to charity, your naughty or nice status is between you and Santa. One thing that isn’t is your social security number. 

4 holiday scam tips for 2022

Tip No. 1: Take responsibility for your security

In 1944, the US Forest Service began their Smokey the Bear campaign in which they declared, “Only you can prevent forest fires.” Nobody wants to start a forest fire (it’s hard to believe there are exceptions to that rule). And nobody wants to be a victim of a scam. Sadly, people get careless. Things happen. The next thing you know, you’re looking at a disaster because some clown stole your social security number and charged a thousand-dollar TV. 

Tip No. 2: Make use of tools like two-factor authentication

I hated two-factor authentication when it first came out. Each time I tried to log into a website with it enabled, I had to wait for an email with my access code. Thankfully, the process is now much smoother, thanks in part to the proliferation of text messaging. You can supercharge your security by enabling this option on all of your financial accounts. If you don’t know how your bank handles two-factor authentication, contact their customer service phone number and ask them to explain.

Tip No. 3: Stop scammers before they get to you

Whenever we visit my mother-in-law, we hear the phone ring several times a day and announce in a highly computerized voice, “Call…from…scam…likely.” Annoying as this is, it’s far better than having her answer the phone and be taken in by some fast-talking fraudster. On our cell phones, we make use of the ‘Block Unknown Callers’ option. (We turn it off when we’re expecting an important call and can’t be sure of the caller’s number.) In a way, this is an extension of Tip #2. Use the tools you have! Screen telephone calls, email, and text messages. You’ll be much happier—and safer—for it.

Tip No. 4: Use credit, not debit, cards. 

We use credit cards for everything. Credit cards provide a lot of security, and if someone gets your information and makes a purchase, you have 60 days to dispute the charge. With a debit card, you must prove you’re the victim of abuse or fraud. And, since debit cards are directly tied to your bank account, there’s always the chance a scammer will drain your account before you know what’s happened.

Did you see last month’s scam entry? You can find it at Charitable giving scams come front and center. Click here to view more Friday Morning Post entries, or you can follow me on Twitter.