Online shopping makes life feel less hectic — especially during the busy holiday season. But all that convenience (and great deals!) isn’t entirely worry-free. According to a study by Gen Digital, one in four consumers were targeted by a scam shopping online during the 2023 holiday season.

These scams include online shopping deals that are too good to be true, fake gift cards, and phishing attempts to collect credit card information. The results can be costly.

But you don’t have to wait in long retail lines to avoid scams. Online shopping can be perfectly safe if you’re cautious and aware.

Keep an eye on your accounts

One of the most effective ways to protect against credit card fraud is to monitor your accounts closely. Reviewing your bank and credit card statements can help spot unauthorized transactions quickly. Set aside a few minutes each week to check your accounts, and consider using mobile banking apps that allow you to monitor your spending in real-time. If you notice any suspicious activity, report it to your bank or credit card issuer immediately.

Beef up your online security

As more people opt for online shopping during the holidays, ensuring robust online security is essential. Use strong, unique passwords for your online accounts, and consider enabling two-factor authentication wherever possible. This adds an extra layer of security, making it more difficult for fraudsters to access your accounts even if they have your password.

When shopping online, always look for secure payment options. Ensure the website URL begins with "https://"— the "s" indicates the site is safe. Additionally, be wary of public Wi-Fi networks; avoid entering sensitive information when connected to these unsecured networks. If you need to shop on the go, consider using a virtual private network (VPN) to encrypt your connection.

Be cautious with holiday deals

The allure of holiday discounts can sometimes cloud judgment. While snagging a deal is great, be cautious of too-good-to-be-true offers. Scammers often create fake websites or social media accounts to promote products at significantly discounted prices. Research the retailer before making a purchase. Check reviews and verify the website’s authenticity. If a deal seems too good to be true, it probably is.

Utilize virtual card numbers

Many credit card issuers now offer the option to generate virtual card numbers for online purchases. These numbers are temporary and can be used instead of your actual credit card number, minimizing the risk of fraud. Your card number remains safe if a merchant’s website is compromised. Check with your credit card provider to see if this feature is available.

Set up alerts

Take advantage of account alerts offered by your bank or credit card issuer. Many institutions allow you to set up alerts for transactions over a certain amount or purchases made online. These notifications can help you quickly identify any unauthorized transactions and take action.

Shred sensitive documents

In a largely digital world, it can be all too easy to forget about your paper trail. As you prepare for the holidays, be sure to dispose of any sensitive documents properly. Shred old credit card statements, receipts, and personal information documents. This simple step can help prevent identity theft, often a precursor to credit card fraud.

Be wary of QR codes

With the rise of contactless payments and mobile wallets, QR codes have become popular for purchases. However, scammers can create fake QR codes that lead to malicious websites or phishing attempts. Always verify the source of a QR code before scanning it, especially if you found it in an unexpected place or from an unknown sender.

Use a dedicated email for online shopping

Creating a separate email address specifically for online shopping can help minimize the risk of fraud. Use this dedicated email to sign up for newsletters, promotions and account registrations. This way, if your email address is compromised or you receive spam, it won’t be connected to your personal or sensitive information.

Implementing these strategies can significantly reduce your risk of credit card fraud during the busy holiday season. Stay vigilant and proactive in monitoring your accounts, and remember that it’s always better to err on the side of caution.

Visit the Spectrum Credit Union Security page to learn more about cybersecurity and protecting yourself from fraud.