Beware of holiday scams image

It’s hard to believe, but the holiday season is officially upon us -- and while it's a time of joy and celebration, it's also a prime season for fraudsters seeking to exploit unsuspecting consumers. Luckily, at Southern Bank, we're diligently preparing to safeguard you from potential threats that would end with giant lumps of coal waiting in your stockings!

To shield customers from falling victim to these holiday-themed schemes, education becomes the best present we can give! 

Here are key recommendations to help minimize the risks of social engineering and scams:

Additional Holiday Season Precautions

  • Shop from legitimate websites: Stick to trusted sites and be wary of offers that seem too good to be true.
  • Use secure networks: Ensure the network used for online shopping is secure to prevent data breaches.
  • Beware of skimmers: Use tap where possible and remain cautious of potential skimming devices.
  • Limit online information sharing: Avoid sharing excessive personal information online to prevent account security questions from being guessed.
  • Regularly review statements: Check and review statements and credit reports periodically, and consider utilizing a Credit Monitoring Service.
  • Never share one-time passcodes: These codes should only be used for authorized transactions.
  • Avoid clicking random text links: Refrain from clicking on any links sent through unsolicited texts.
  • Verify urgent requests: In cases of urgent requests for personal information, independently confirm
  • Direct inquiries to company sources: For order-related queries, use the contact information provided on the company's website or in the initial confirmation email

In addition to these recommendations, it's imperative for us, your financial institution, to adopt best practices to combat evolving fraud threats. Southern Bank has already made our New Year’s Resolution too:

  • Stay informed about fraud trends: Keep abreast of emerging fraud trends to detect and respond to potential attacks.
  • Identify different fraud types: Distinguish between various fraud types, enabling better reporting and mitigation strategies.
  • Educate customers: Conduct regular awareness campaigns to keep customers informed about prevalent fraud schemes.
  • Monitor and validate account changes: Implement processes to monitor and validate changes to customer information.
  • Train employees on fraud risks: Educate staff members to recognize and address potential risks this holiday season.
  • Review card limits: Set appropriate spending limits to balance fraud exposure and customer satisfaction.
  • Implement Mobile Wallet protections: Utilize actionable intelligence, enhanced authentication processes, and customer education to protect against contactless fraud.

By implementing these proactive measures we can significantly reduce the risks associated with holiday fraud.

Let's work together to ensure a safe and enjoyable holiday season for all - stay informed, stay cautious, and stay protected!

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