Avoid Costly Holiday Financial Scams With These Simple Tips From Sexton Advisory Group

Sexton Advisory Group

Financial Consultant Steve Sexton Shares Timely Recommendations to Prevent Financial Fraud This Holiday Season

According to AARP, over two-thirds of consumers plan to do their holiday shopping online this season - making them an easy target for financial scammers. While consumers should be wary of scams throughout the year, the holidays are an especially vulnerable time. Steve Sexton, financial consultant and CEO of Sexton Advisory Group in San Diego, shares his tips on how to avoid costly scams this holiday season.

  • Beware of "spoofing" sites. "As retailers roll out seasonal deals for the holidays, scammers will take advantage of this by creating bogus website and social media campaigns that impersonate major brands. These "spoofing" sites will entice bargain shoppers to spend money for products they'll never receive," says Sexton. With the onslaught of Instagram and Facebook ads, it's easy to fall into this trap. "Make sure you do your research before you purchase anything or provide your credit card info."
  • Gift card scams. "Fraudsters commonly use Walmart, iTunes, eBay and other popular gift cards as cash conduits. They'll contact you in the guise of someone else - perhaps an IRS agent or a lottery official - and claim you owe a debt or need a service," adds Sexton. "They'll insist you buy gift cards and read them the serial and personal identification numbers on the back to make quick payment. Don't fall for this! Genuine businesses and government agencies will never ask for payment via gift card."
  • Charity scams. Over one-third of all charitable giving is done during the holidays. Unfortunately, this also encourages scammers to capitalize on donors' goodwill. Many frauds involve fake fundraising campaigns for veterans or disaster relief. "Make sure you double-check the website when you're donating to make sure it is legitimate, and I encourage donors to do their research before opening up their wallets," says Sexton.
  • Delivery scams. With an increase in deliveries during the holiday season, scammers will capitalize on this by sending out phishing emails disguised as UPS, FedEx or USPS notifications of incoming or missed deliveries. "If you did not sign up for these notifications, be wary of opening these emails or clicking on any suspicious links as it could lead to a malware infestation or stolen information," says Sexton.

"There are often key telltale signs that something is a scam," adds Sexton. "For example, huge discounts that seem too good to be true, spelling errors or incorrect grammar in an email or website, and a lack of a phone number, street address, and privacy policy on a website are usually indicative of a scam," adds Sexton. "At the end of the day, being vigilant, paying attention to details, and doing your research can save you a lot of time and money in the long run."   

For more information on Sexton Advisory Group, visit https://www.sextonadvisorygroup.com/.

Source: Sexton Advisory Group

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