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Helpful Tips to Prevent Scams and Fraud This Summer

Protect yourself and your vacation!

by Chase (Paid Content)

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Whether on a cruise with your spouse or summer vacation with your family, the last things you want to worry about are scams and fraud. Unfortunately, scammers and fraudsters don’t take any time off.

According to data from the Federal Trade Commission, $26 million was lost to travel, timeshare, and vacation rental fraud from January to March 2021 alone, with a reported median loss of approximately $1,100 per incident. Another survey states that victims lost the largest amount of total money to vacation and travel scams.

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Here are a few simple tips to help prevent scams and financial fraud from happening to you or your loved ones during the busy summer travel season.

DO's

  • Educate yourself on the most common types of scams before you travel. Fraudsters will use anything to their advantage, especially if you’re in an unfamiliar environment on vacation. Search online for information on the latest common scams.

  • Slow down – vacations are about taking things slowly. Scammers often try to create a sense of urgency to get you to share personal information or money. If something seems too good to be true, it probably is.

  • Review your accounts regularly by logging into your bank’s website or app from a secure internet connection – avoid public Wi-Fi. Many banks will let you set up account alerts that notify you of transactions on your account or credit card in real time.

  • Be careful when you use your devices in public areas. Watch out for anyone looking to see what you’re doing.

  • Lock your credit or debit card to prevent unauthorized use. Many banks and credit card issuers let you “lock and unlock” your card from their mobile app or website to help protect your account from unauthorized transactions.
A real extended family of multi-ethnic and multi-generational backpackers in the wilderness pose of a selfie on a deserted beach surrounded by islands and forest with the ocean in the background. Rainy day in a wilderness park.

DON’Ts

  • Share personal or financial information with anyone, including hotel staff, strangers at a bar, or a taxi driver. Fraudsters will use scare tactics or try to gain your confidence to convince you to share personal details that could help them steal your money or identity.

  • Give your banking information to anyone, including someone who appears to be contacting you from your bank. Information like your banking username, password, or ATM pin can help crooks steal your money or identity.

  • Transfer money to someone claiming it will reverse fraud on your account. Legitimate companies will never ask to send money via wire, check, payment apps or any other method to prevent fraud.

If you believe you may have been a victim of fraud or scams, there’s no need to feel embarrassed or ashamed. It can happen to anyone. What’s most important is to take immediate action.

First, contact your bank, credit card issuer or local law enforcement to report the fraud or scam. They’ll be able to tell you the best way to proceed. Chase helps its customers keep their money safe and avoid financial abuse. There is comprehensive information and resources on the Chase website to provide information on scam warning signs, how to report abuse, and how to be better prepared against these risks.