Scam-smart and Eid ready

Eidul Azha is a time for celebration. But while we prepare for festivities, fraudsters are busy preparing their own schemes. From fake charity appeals and online livestock ads to phishing emails and deceptive text messages, scammers are getting smarter, and this holiday season is the perfect time for them to make you add another sacrifice in the mix -- your hard-earned money.

Even though financial institutions and merchants are working to step up their digital fraud controls, staying safe ultimately starts with you. It is not uncommon for people to receive fake calls or messages during Eid, often requesting personal details or money transfers under the guise of helping a cause. These scams are designed to exploit your goodwill when you are most likely to give.

So, as you scroll through online shops or consider donating, take a moment to double-check. Avoid clicking on suspicious links, do not share your banking details, and always verify the authenticity of any campaign or seller. After all, while Eidul Azha celebrates sacrifice, we should not be sacrificing our security to scams.

Rising tide of online fraud

As Eid shopping goes digital, scammers are ready to pounce with fake websites, phishing emails, and ‘too good to be true’ deals. Phishing attacks targeting retail brands have surged by a whopping 2,000 per cent during peak shopping seasons, making vigilance more crucial than ever. Visa’s Stay Secure study shows that while most consumers in Pakistan are adopting digital payments and taking steps to protect themselves, the ever-evolving tactics of fraudsters mean staying smart is key.

Spotting Eid scams

Fraudsters want your codes: Many banking and financial apps require a one-time passcode to verify your identity. Scammers often pretend to be from your bank or the government, asking for a code to verify a transaction or update security settings. Once they obtain it, they gain access to accounts, putting both money and personal data at risk.

Fake apps and websites: Be cautious of spoofed apps or websites designed to steal your personal information. Fraudsters even create fake holiday-themed apps which contain malware to infect your devices and secretly collect payment data and login credentials.

Gift cards and fake charity scams: Scammers love to play on your emotions, especially during Eid. They might send emails or messages asking for donations to fake charitable causes. Some even ask for payments via gift cards or cryptocurrency -- talk about making it harder to get your money back. Stick to verified charity websites and steer clear of any requests for gift card payments. After all, your generosity should go to those who truly need it, not some scammer’s pocket.

Delivery scams: With online shopping surging, fake delivery alerts claiming issues or customs fees are common. These messages contain phishing links or requests for sensitive info, often impersonating logistics companies or government services.

Consumers are getting smarter

While fraudsters often take advantage of the distractions of the holiday season, the good news is that people are becoming wiser against online scams. Visa’s upcoming annual Stay Secure study shows that Pakistanis are becoming savvy about protecting themselves.

People are taking steps like not responding to requests for money transfers on behalf of someone else (52 per cent), not sharing card or account details (48 per cent), and keeping a close watch on bank statements for any suspicious activity (52 per cent). This cautious approach is happening as more people turn to digital payments, using bank transfers (63 per cent), credit or debit cards (48 per cent) and mobile payments (34 per cent).

Even though most people trust digital payments (82 per cent), this trust can quickly vanish if they experience fraud or worry about data privacy and security. The study reveals that a whopping 93 per cent of people are concerned that their friends or family might fall victim to scams.

Shop smart, stay secure

Verify website URLs: Always double-check the website address to ensure you are on the official retailer or bank’s site. Look for ‘https’ in the URL.

Beware of unrealistic deals: Be cautious of deals that seem too good to be true, as they may be scams. Rs999 for 10kg of premium qurbani meat delivered to your door? That’s not a deal -- it is a red flag. Always check the source before you click ‘Order Now’.

Enable purchase alerts: Activate real-time alerts from your bank. If any unfamiliar charges appear -- whether for qurbani, shopping or donations -- you will be able to report them immediately.

Protect your accounts: If you receive a call or message asking for your OTP, do not respond. Legitimate services will never ask for it. Always be cautious, especially during busy Eid transactions.

Beware of suspicious emails and calls: If you get a call or message asking for payment details or personal info, double-check. Call the company back using a verified number from their website or company info -- not the one the scammer gave you.

Pakistan is on an exciting journey of growth, with technology transforming the way people live, work, and connect. As digital payments become second nature, it is encouraging to see consumers getting smarter about staying safe online. Still, with scammers always coming up with new tricks, it’s important to stay ahead. Financial institutions and merchants need to keep improving security and helping users understand how to protect themselves. By working together, we can make the digital world safer, keep trust strong, and protect the transactions that connect us all. This Eid, let us not just celebrate the act of giving, but master the art of outsmarting scammers.

The writer is Visa’s country manager for Pakistan and Afghanistan.