Credit card scams: What to look out for this holiday season
Published On Dec 16, 2024, 2:54 PM
Credit card scams are on the rise, especially during the holiday season, with Visa reporting a 284% increase in fake merchant websites over the last four months. Scammers are using tactics like spoofed websites to lure shoppers with unbelievable deals. Additionally, consumers are warned about fraudulent messages regarding unauthorized charges, fake charities, and ATM skimming devices. It's crucial for individuals to verify the authenticity of websites and communications they receive to avoid falling victim to these scams.
Stock Forecasts
CRWD
Positive
With the rising incidences of credit card fraud and scams, it may indicate an increase in demand for cybersecurity solutions and protection services, which could positively impact stocks related to security (e.g., cybersecurity firms).
AMZN
Negative
The increase in scams may hinder consumer spending and confidence, which can negatively affect companies in retail and e-commerce, particularly during the holiday season. This could lead to lower sales figures and revenue projections for some companies in this sector.
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