The holidays are full of joy, giving, and, unfortunately, opportunistic scammers. Even the most careful shoppers or online enthusiasts can fall victim to a fraud scheme. If it happens to you, don’t panic—there are clear, practical steps to get back on track and protect your finances.
1. Act Fast
The sooner you respond, the better. If a fraudulent transaction appears on your account, contact your financial institution immediately. Most banks and credit unions, including First Commonwealth, have dedicated fraud teams ready to help investigate and stop unauthorized activity.
2. Freeze or Replace Compromised Cards
If a credit or debit card is involved, request a replacement card immediately. This prevents additional charges and gives you a clean slate while the investigation continues.
3. Document Everything
Keep records of suspicious emails, texts, calls, or charges. Screenshots, emails, and account statements will be helpful for your bank and, if necessary, law enforcement.
4. Report the Fraud
Scammers rely on victims staying quiet. File a report with:
- Your financial institution’s fraud department
- The Federal Trade Commission (FTC.gov)
- Local police, if you feel it’s necessary
5. Monitor Your Accounts
Even after resolving the immediate issue, continue to monitor your accounts closely for the next few months. Sign up for account alerts if you haven’t already—they can notify you instantly of unusual activity.
6. Learn and Adjust
Fraud happens to the best of us. Use the experience to review your online habits and account security, including the use of strong passwords, multi-factor authentication, and trusted payment methods.
Keep Your Holidays Merry—and Your Finances Safe
Falling victim to a scam can be stressful, but taking quick action and being vigilant makes a huge difference. Our team is here to help you recover from fraud, protect your accounts, and provide guidance so you can enjoy a scam-free holiday season.
For more tips, resources, and ways to protect your finances, visit our Fraud Center.