SECURE YOUR SEASON

The holiday season brings cheer, generosity, and unfortunately, a significant spike in financial scams. MainStreet Bank is committed to helping our customers navigate this busy time safely. Fraudsters are sophisticated, and during the rush of shopping, traveling, and managing end-of-year finances, it’s easy to let your guard down. By knowing the most common threats, you can protect your hard-earned money and personal information.

Holiday Scams Targeting Consumers

 
As you search for the perfect gift or book your holiday travel, be on the lookout for these classic traps:
 

1. Phishing Scams (Emails & Texts)

These are the most common attacks, where scammers impersonate legitimate companies–retailers, shipping carriers (like USPS, FedEx, UPS), or even your bank—to steal your data.
 

• The Lure: You receive an urgent email or text about a “delayed package,” a “problem with your order,” or an “unusual charge” on your account, complete with a link to “fix the issue.”
• What to Watch For:
  
  • Unexpected urgency or threats.
  • Links that use slightly misspelled URLs (e.g., “Amaz0n” instead of “Amazon”).
  • Requests for you to provide passwords, PINs, or sensitive personal data.

• MainStreet Bank Tip: Never click the link. Check your package status directly on the carrier’s official website or log into your retailer account directly—do not use the link provided in the suspicious message

2. Fake Shopping Websites and Social Media Deals

Scammers create professional-looking, but completely fake, websites or ads on social media selling hot-ticket items or luxury goods at impossible discounts.
 

• The Lure: An amazing deal on a must-have gift that is otherwise sold out everywhere.
• What to Watch For:
  
  • Prices that seem “too good to be true.”
  • Websites with spelling errors, low-quality images, or an address starting with http:// (instead of the secure https://).
  • Sellers who only accept unusual payment methods like gift cards, wire transfers, or cryptocurrency.

• MainStreet Bank Tip: Stick to well-known retailers. Before buying from an unfamiliar site, search the company name plus “scam” or “reviews” to see if others have reported issues.

3. Gift Card and Charitable Donation Scams

Gift cards are a popular payment tool for scammers because they are nearly impossible to trace. Holiday generosity is also exploited by fake charities.
 

• The Lure: An email appearing to be from your boss, a family member, or a government agency urgently asks you to buy gift cards and send them the codes. Or, a high-pressure plea for a donation to a seemingly new charity.
• What to Watch For:
  
  • Any request to pay a bill, fee, or debt with a gift card. Legitimate organizations will never demand gift card payment.
  • A charity that has no official website or is pressuring you to donate immediately via cash, wire, or gift card.

• MainStreet Bank Tip: Verify all charities on sites like Charity Navigator or IRS.gov. If a loved one or boss asks for gift cards, call them back on a known, official number to confirm the request is real.

Protecting Your Small Business Finances

 
Small businesses in the DC Metro area, especially those with increased holiday activity, are prime targets for higher-value attacks.
 

1. Invoice and Vendor Fraud

This scam targets your accounting or payroll departments.
 

• The Lure: An email, seemingly from a known vendor or supplier, requests an urgent change to their payment information (e.g., a new bank account for ACH or wire transfers) for an upcoming invoice.
• What to Watch For:
  
  • Any unexpected change in vendor payment details, especially sent via an unverified email address.
  • Email impersonation (also called “CEO Fraud”) where the sender claims to be an executive demanding immediate, confidential payment action.

• MainStreet Bank Tip: Implement dual controls—require a verbal or in-person confirmation (using a pre-established, known phone number, not the number in the suspicious email) before processing any new or changed payment instructions.

2. Business Email Compromise (BEC)

Scammers hack into an employee’s or executive’s email account to monitor communications and perfectly time a fraudulent request.
 

• The Lure: The fraudster sends a request for a large wire transfer or sensitive data, using the genuine email account of a colleague or executive.
• What to Watch For:
  
  • Unusual urgency for a wire transfer that is out of normal business practice.
  • Slightly altered email addresses (@company.net instead of @company.com).

• MainStreet Bank Tip: Review and utilize advanced security services like Positive Pay or ACH Positive Pay for your MainStreet Bank business accounts to block unauthorized check and electronic transactions.

Your Personal Action Plan: How to Stay Safe

 
Whether you’re a consumer or a business owner, these steps will fortify your finances this holiday season:
 

• Check Accounts Daily: Use MainStreet Digital Banking tools to monitor your accounts daily. If you see an unrecognized transaction, report it to us immediately.
• Verify Security: Only shop on websites that start with https:// and have a padlock icon in the address bar. Avoid conducting financial business on public Wi-Fi.
• Strengthen Passwords: Use long, unique passwords for every online account and enable Multi-Factor Authentication (MFA) wherever possible—it’s the single best defense against hackers.

 
We’re here to help you enjoy a secure and stress-free holiday. If you suspect fraud, call us immediately at our official phone number, which you can find on the back of your card or on our official website.