Holiday Season Begins: Visa Warns Against Fraud

As the school and year-end holiday season approaches, Visa Inc urges Indonesian consumers to stay alert against potential fraud schemes this festive season. Riko Abdurrahman, President Director of Visa Indonesia, emphasized that cybercriminals have been preparing for this time of year. With increased transactions, the number of fraudsters also rises, leveraging both online and physical data theft methods. Among the key protection measures, Visa highlights the significance of verifying the authenticity of the retail outlets consumers choose to shop from, whether online or offline. This involves performing diligent research before purchasing from unfamiliar shops. Additionally, consumers should ensure the use of secure websites when paying online, indicated by URLs starting with ‘https://’. When shopping, avoid public Wi-Fi connections as they are susceptible to hacks leading to data theft. Visa’s Holiday Edition Threats Report details an increase in various fraud tactics that consumers should be wary of. These include advancements in phishing, leveraging AI to craft scams difficult for users to recognize. Skimming at ATMs and point-of-sale terminals is also expected to rise with increasing in-store foot traffic. Furthermore, there is heightened activity in bypassing OTP (one-time passcode) security and even physical theft in crowded areas. Visa has already helped proactively block fraudulent activities amounting to US$30 billion in the first six months of 2023. They have invested over US$10 billion in recent years to enhance fraud prevention and maintain network security. Consumers play a crucial role in fraud prevention, being the first line of defense. This festive season, the increased consumer activity provides an ample target for fraudulence. It is vital to remain alert, critically evaluate deals, protect personal information, and stay informed of potential threats.