FINANCIAL BRIEFS from COMERICA BANK ...Online shopping safety during the holiday season

Despite reports that the recession has ended, many people are still feeling the effects and are trying to watch their spending this holiday season. The popularity of online shopping has steadily increased in recent years due to the convenience and the ability to often find more money-saving incentives through a company’s website than in their store. And over the holidays, online transactions tend to increase, as many people would rather spend time at home with friends and family than battling the weather or fighting crowds at the local mall. Even though online shopping has become commonplace, that doesn’t mean it’s 100 percent safe, and consumers must take the appropriate steps to protect their personal information.
“Even though more people shop online, it’s still a good idea to be smart with the way you make your online purchases,” says Terry Thornton, Senior Vice President, Fraud Services, with Comerica Bank. “No one wants to be the victim of identity theft, so learning how to shop smart online could help save you from fraud and identity theft.”
Thornton offers the following tips that can help make sure you buy gifts safely over the Internet:
Always know who you’re dealing with. If the website does not look legitimate, don’t shop there. Some scam sites may offer deals, but are really just itching to steal your information. When in doubt, check the online store against those in the Better Business Bureau at the local and state levels. Also, make sure the online store has a real phone number and don’t hesitate to call with any concerns. If you’re still wary, take your business elsewhere to a more trusted, reputable website.
Look for security clues on the website. Thornton suggests that consumers take a look at the site for security clues and other information that shows the store is reliable. “Legitimate websites will not ask for personal information and won’t take you to a third party website,” Thornton says. It’s also a good idea to update your security software and antivirus equipment in order to be sure that there are no malicious bugs embedded in the site itself.
Guard your information. Protect your personal information when you’re shopping online. Online stores will typically ask for a shipping address, billing address and credit card number. Legitimate online stores will not ask for a social security number or a checking account number unless you are using a ...