’Tis the Season! Stay safe and stay alert for holiday fraudsters!

Bank of the James is gearing up for the highest spending season of the year! This is a time when fraudsters amp up their schemes more than usual. Here are a few common scams that we see and some guidance to point our customers in the right direction. Keep a keen eye out for these types of scams and protect yourself!

Common scams: This list is not all-inclusive. Fraudsters are constantly developing new tactics to steal personal information and money. Stay informed and vigilant!

Social Media Scams

Customers may see ads on platforms like Facebook, Instagram, or TikTok offering free or deeply discounted products or services. After clicking the ad, their personal or payment information is collected by a scammer — and they never receive the promised item.

Tip: If the deal seems too good to be true, it probably is. Be especially cautious with TikTok Shop ads!

Seasonal Travel Scams

Fraudsters set up fake travel booking sites or pop-ups offering vacation deals. Customers who book through these may lose their money and have no actual reservations.

Tip: Only use trusted, well-known travel sites. Always verify before booking!

Holiday Charity Scams

Scammers pose as charitable organizations, especially during the holidays, and pressure people into making quick donations.

Tip: Legitimate charities will never demand immediate donations or request payment via gift cards. Research before giving.

Account Takeover

Fraudsters increasingly target user information through data breaches or phishing to take over accounts and initiate unauthorized transactions (debit card, Zelle, ACH, wires, etc.).

Tip: Use strong passwords and enable multi-factor authentication where possible.

Card Not Present

As EMV chip technology has made physical card fraud more difficult, scammers now focus on online or phone transactions.

Tip: Be cautious when entering card info online. Look for secure sites (https://).

Friendly Fraud

Sometimes customers give their debit card to a friend or relative who then uses it irresponsibly. If the customer granted access, they are liable until they report it.

Tip: If this happens, the card should be closed immediately, and a new one issued.

3rd Party Scams

Scammers impersonate legitimate companies to trick victims into giving away personal or banking information. No reputable company will ever ask for your online banking username or password.

• Amazon Scam Calls: A scammer pretends to be from Amazon, claiming the customer’s account is locked or needs updates. They may ask for debit card info to “fix” the issue.
• Loan Scams: A fraudster “approves” a loan and deposits a fake check, then requests the customer return part of the funds before the check bounces.
• Romance/Friend/Job Scams: The scammer builds a fake relationship or job opportunity and convinces the victim to move funds on their behalf. These victims may unknowingly act as money mules.
• Text Messages (smishing): Scammers send fake texts appearing to be from banks, delivery services, or government agencies. These messages contain malicious links or request personal information, aiming to steal sensitive data or money.

And remember: Bank of the James will NEVER send you an unsolicited email or text asking you to click on any link to a website OR request account information. Always call your local branch to verify any communications and DON’T CLICK! Let’s work together to keep those fraudsters at bay!