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.

Read full article

Stock Forecasts

CRWDView CRWD chart on TradingView

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).

AMZNView AMZN chart on TradingView

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.

Related News

Amazon aware of warehouse injury risk, Senate report finds

Dec 16, 2024, 12:28 PM

The e-commerce giant is accused of trying to misrepresent its safety record, but says a report "isn't grounded in reality".

AMZN

Amazon Disregarded Internal Warnings on Injuries, Senate Investigation Claims

Dec 16, 2024, 6:00 AM

A staff report by the Senate labor committee, led by Bernie Sanders, uncovered evidence of internal concern about high injury rates at the e-commerce giant.

AMZN

Tech Industry and CEOs Curry Favor With Trump Ahead of His Inauguration

Dec 14, 2024, 5:02 AM

It was a week of frenzied activity, as Silicon Valley billionaires and their companies brandished checks and compliments for the President-elect.

AMZN
META