As summer approaches and travel plans take shape, it's essential to be aware of the increasing prevalence of travel scams. Keith Hrnyak, Chief Financial Officer at Members Choice Credit Union, shared valuable insights with KPRC2+ Now on how to protect yourself and your finances during summer travels, highlighting key strategies to stay alert and keep your money safe.
When preparing for your trip, it's tempting to search for the best deals online. However, Keith emphasizes the importance of using trusted vendors to avoid falling prey to fraudulent offers. Initiating your search from reputable sources can significantly reduce the risk of encountering scams disguised as enticing travel deals.
It's also important to verify the authenticity of websites and vendors before making any purchases. Keith recommends conducting a quick online search to check for customer reviews and ensuring the legitimacy of the URL as ways to help you steer clear of fraudsters who impersonate well-known brands.
Before embarking on your journey, take proactive steps to protect your financial information. Members Choice Credit Union recommends notifying your financial institution about your travel plans, especially if you're traveling internationally. Setting travel notifications through your mobile banking app ensures that legitimate transactions are approved quickly while unauthorized purchases and activities are flagged.
To further enhance security, Keith advises to monitor your financial accounts regularly for any suspicious activity. Utilize the alerts and debit card controls available on your mobile banking app to receive notifications for unusual transactions and set spending limits. This proactive approach will assist you in detecting and responding quickly to potential fraud attempts.
Once you arrive at your destination, remain cautious and protect yourself against card skimming devices, Keith recommends opting for contactless payment options whenever possible. This alternative reduce the risk of your card information being compromised at ATMs or gas stations. When sightseeing or exploring local attractions, carry only essential cards and keep your wallet secure.
When accessing public Wi-Fi networks, avoid logging into sensitive accounts or conducting financial transactions over unsecured connections, as cybercriminals can intercept your data and compromise your privacy. Be cautious of QR codes and ensure they direct you to legitimate websites before scanning. Scammers may exploit QR codes to redirect users to malicious sites designed to steal personal information or financial credentials.
While traveling, if you receive notifications claiming your account has been compromised, remain calm. It could potentially be a scammer attempting to access your funds.
Verify the authenticity of the communication by directly contacting your financial institution. Use the official contact information provided on their website or the back of your credit or debit card. Once you confirm the identity of the person you are speaking with, ensure they are authorized to discuss your account details. Never disclose sensitive information or take action if you are unsure of the person's identity.
For more information and resources on protecting your money against fraud, visit Members Choice Credit Union’s security and fraud center or check out our other free fraud resources in our "Good Money Habits" financial wellness center.
