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Cyber Risks Increase During the Holiday Shopping Season

  

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Holiday shopping is officially in full swing.  Are you up for the challenge of trying to find a parking spot at the mall?  Do you bring boxing gloves into stores to fight your way through the throngs of people?  Or have you decided to park yourself in front of your computer and hit the online stores?   

While shopping online means you won't waste time searching for a parking spot or fighting the crowds at the mall, it can leave you vulnerable to cyber-criminals looking to empty your bank account or steal your identity.  It’s important to make sure that convenience of online shopping doesn’t come at the price of your identity.

The Better Business Bureau (BBB) suggests taking steps to avoid online fraud.  Here are the BBB's Top 10 Online Shopping Tips for holiday shoppers:

1. Protect your computer — A computer should always have the most recent updates installed for spam filters, anti-virus and anti-spyware software and a secure firewall.
2. Shop on trustworthy websites — Always look for the BBB seal and other widely-recognized "trustmarks" on retailer websites and click on the seals to confirm that they are valid.
3. Protect your personal information — Take the time to read the site's privacy policy and understand what personal information is being requested and how it will be used. If there isn't one posted, it should be taken as a red flag that personal information may be sold to others without permission.
4. Beware of deals that sound too good to be true — Offers on websites and in unsolicited e-mails can often sound too good to be true, especially extremely low prices on hard-to-get items.
5. Beware of "phishing" — Legitimate businesses do not send emails claiming problems with an order or an account to lure the "buyer" into revealing financial information. If a consumer receives such an email, pick up the phone and calling the contact number on the website where the purchase was made to confirm that there really is a problem with the transaction.
6. Confirm your online purchase is secure — Shoppers should always look in the address box for the "s" in https:// and in the lower-right corner for the "lock" symbol before paying. If there are any doubts about a site, BBB recommends right-clicking anywhere on the page and select "Properties." This will let you see the real URL (website address) and the dialog box will reveal if the site is not encrypted.
7. Pay with a credit card — It's best to use a credit card, because under federal law, the shopper can dispute the charges if he or she doesn't receive the item. Shoppers also have dispute rights if there are unauthorized charges on their credit card, and many card issuers have "zero liability" policies under which the card holder pays nothing if someone steals the credit card number and uses it.
8. Keep documentation of your order — Save a copy of the confirmation Web page and any emails for future reference and as a record of the purchase.
9. Check your credit card statements often — Check credit card statements for suspicious activity by either calling the credit card companies or by checking statements online regularly.
10. Know your rights — Federal law requires that orders made by mail, phone or online be shipped by the date promised or, if no delivery time was stated, within 30 days. If the goods aren't shipped on time, the shopper can cancel and demand a refund. Consumers do have the right to reject merchandise if it's defective or was misrepresented. Otherwise, it's the company's policies that determine if the shopper can cancel the purchase and receive a refund or credit.

In the unfortunate event that your identity is stolen, identity theft can be covered if you have identity theft insurance. Identity theft protection and resolution service is included in some companies’ homeowner and auto policies at no additional cost. The service provides the consumer with a fraud specialist to assist and guide them through the process of restoring and protecting their identity. Some companies include identity theft coverage as part of their homeowners insurance policy; selling it as either a stand-alone policy or as an endorsement to a homeowners or renters insurance policy. This coverage provides the customer reimbursement for the expenses associated with the identity and credit restoration process including phone bills, lost wages, notary and certified mailing costs, and sometimes attorney fees (with the prior consent of the insurer).