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Tips on shopping safely

Dec. 2, 2009 5:18 pm

Christmas shopping list? Check.

Christmas travel plans? Check

Making sure you're shopping safely for both? Priceless in the amount of time and aggravation you can save by warding off identity theft.

Here are some tips to protect yourself from fraud this shopping season from Demaine Lewis, a Wachovia market president for business banking: 
 

• Take the paperless route with online banking: The 2009 Identity Fraud Survey Report from Javelin Strategy & Research shows that some thieves still do it the old-fashioned way—by stealing bank or credit card statements from the mailbox. Reduce your risk of stolen mail by picking up mail promptly and switching to online statements.

• Monitor your activity: Financial institutions such as Wachovia use sophisticated systems to track purchasing and transaction habits so irregularities can be flagged. Register for email or mobile alerts so you can stay informed.

• Protect your computer from malware: Crooks are getting smarter with phishing and malware scams. Make sure your computer has the most up to date virus prevention and don’t download any attachment or plug-in without ensuring it is from an authorized site. When making purchases, be sure the website address starts with “https://...” The “s” helps ensure that your information will be passed along in a secure manner.  

• Don’t believe in offers that are too good to be true: No one wants to be cynical during the holidays, but if something seems too good to be true, it probably is. Watch out for email scams or suspicious messages and report any that may pose to be from your financial institution and report those that try to look like your financial institution to your bank or credit card company.

• Be careful what you share: Unless you initiated the interaction, do not provide sensitive financial information over the Internet or phone, including Social Security numbers, passwords, personal identification numbers (PINs) or account numbers. If the call back number seems suspicious, confirm the phone number from a legitimate source from the organization, such as the back of a credit card or from the company's web site.  

• Check your list twice: Review your account activity regularly, especially during big shopping trips. Enroll in mobile banking to check your balance and transactions while on the go, or check your purchase activity online as soon as you get home.  Sign up for transaction alerts on your debit or credit card which will notify you of transactions over your threshold.

• Be aware of your surroundings: Cover the pin pad when you enter your pin number. Do not repeat sensitive financial information where it could be overheard.

• Ensure you're protected in case of loss or theft:   Check your bank's policy to ensure you are fully protected in case of loss or theft.  (When you use Wachovia Online Banking, Wachovia Business Online, and Online BillPay, and when you perform online funds transfers, including funding a new account online, your transactions will be secure and completed correctly as long as you adhere to the terms and conditions of the Customer Agreement for Wachovia Online Services.  If you suspect an unauthorized user has accessed your accounts, you are 100% covered for any funds removed from those personal deposit accounts, including loss of interest, insufficient funds and overdraft charges, when you contact us within sixty days of receiving your statement that contains the unauthorized activity.)
  
• Know your credit report: Review your credit report at least once a year, looking for suspicious or unauthorized transactions. You can get a free credit report once a year from each of the three major credit bureaus at the Annual Credit Report web site: https://www.annualcreditreport.com/cra/index.jsp.