Summer is upon us, and with that comes all we love about the season: vacation, quality time, relaxation. Unfortunately, summer is also when many of us let our guards down, creating the perfect opportunity for scammers to strike.
Summer scams are on the rise. A recent McAfee report revealed that 38% of travelers have encountered a travel-related scam, and 41% lost money as a result. Scams are also becoming harder to detect as scammers use AI to make their ploys look and sound more authentic, and their requests for sensitive personal and financial information appear more legitimate.
Don’t let scammers spoil your fun this summer season. Here are IBC Bank’s top scam prevention tips to protect your finances and make way for summer relaxation:
Verify “too good to be true” travel deals. As prices rise during the peak travel season, scammers will often prey on cost-wary consumers with fake deals on travel accommodations, such as lodging and airfare. For hotels or summer rentals, be wary of blurry or grainy photos, properties with no reviews or bad reviews, or prices that seem suspiciously low. Don’t click on any links, and be sure to verify any deals you see online through a brand’s customer service line or website.
Do not share passwords or one-time codes. Passwords and one-time codes are for your eyes only. Sharing them can put you in danger of losing access to your account or having your personal or financial information stolen. Remember: if you booked with a reputable travel site, they should already have your information on file.
Think twice before sharing your summer photos. When you share your vacation photos publicly online, you are broadcasting your habits to scammers, who can use that information later to exploit you. Set your profile to private so scammers can’t see into your personal life, or consider waiting to share your vacation photos until after you get home.
When in doubt, hang up. In today’s day and age, scammers use a tactic called “spoofing,” in which they change their caller ID to display the phone number or name of a trusted airline, hotel or booking site. Trust your instincts. If you have any suspicions about who is calling or sense any red flags, hang up, and don’t redial the number on your caller ID. Instead, contact the company using the number listed on their official website.
Spoofing doesn’t just happen with travel brands. Increasingly, scammers are impersonating government agencies and financial institutions, using scare tactics such as bullying or threatening language to create a sense of urgency. As a reminder, IBC Bank will never request personal information over the phone, through text, or by email. We will never ask you for your PINs or secure access codes either.
The fraud landscape is changing rapidly, and scams appear to be growing by the day. But that doesn’t mean we are helpless against them. Information is your first — and best — line of defense in the fight against scams. You work hard for your money – don't let a scammer steal it! An informed consumer is a safe and happy consumer.
Editor’s Note: The above guest column was penned by Dalia F. Martinez, co-president of IBC Service Center. The column appears in the Rio Grande Guardian with the permission of the author.
