As Cyber Monday approaches on Nov. 29, IBC Bank wants to ensure that its customers and the community stay safe while making purchases with their debit or credit cards during the holiday season.

While scams from online shopping produce the most reports to the Better Business Bureau, it’s in November that the number of scams skyrocket. Reports to the Federal Trade Commission of undelivered orders, or “no-shows,” quadrupled from 2015-19 and reached record highs in the spring of 2020 as the spread of COVID-19 fueled a spike in online shopping.

“A November 2020 AARP survey on holiday shopping found that while 72% of U.S. consumers are concerned about the security of their personal and financial information when buying something online, only 15% could correctly answer at least 7 of 10 true/false questions about safe shopping practices,” explained Gabriel Castillo, Senior Vice President of IBC Bank. “As our customers participate in shopping online throughout the holiday season, IBC Bank has the opportunity to “Do More” for our customers by equipping them with the tools and resources needed to stay financially safe while making purchases online.”

IBC believes in empowering customers and community members through education and offers five tips on preventing debit or credit card scams and staying financially safe online during the holiday season:



Read more…