The holiday season brings a spirit of generosity and a flurry of shopping, but it also presents lucrative opportunities for scammers. Financial fraud is an ongoing issue that impacts individuals of all backgrounds. According to the Federal Trade Commission (FTC), victims reported losing $16 billion to scams in 2025, the highest on record and a 25% increase from 2024.
Given the financial impact of these evolving threats, financial institutions like Arvest Bank emphasize the importance of fraud awareness during the holidays. “Scammers are utilizing highly advanced tactics to trick victims, including artificial intelligence to generate realistic-sounding voice messages and texts that are harder to detect,” says Jill Rawls, executive vice president and sales manager for Arvest Bank – Central Oklahoma. “To help protect your assets this holiday season, it’s important to educate yourself about common scams and take preventive measures ahead of time.”
Digital Protection
During the November and December holiday season last year, consumers spent $257.8 billion online, setting a new e-commerce record, according to Adobe Analytics. For this reason, digital protection is paramount, notes Rawls. Fraudulent sites often pose as well-known retailers and offer deals that appear too good to be true. “Look closely at the web page’s address to ensure everything is spelled correctly and that the URL begins with ‘https’ to confirm the site is secure before entering your account information,” Rawls says.
If road trips are part of your holiday plans, consider using the “tap to pay” feature at gas stations and stores. This contactless method is a quick way to pay and helps keep your account safe from card skimming when you swipe or insert your card.
Digital wallets provide additional protection by keeping your sensitive data off a merchant’s server where it could be hacked. “Using a digital wallet is a great fraud protection measure as those contactless payment methods use random, encrypted payment codes so your card numbers are not transmitted during the transaction,” Rawls explains.
Charity Scams
The holidays are a season of giving, and fraudsters are quick to take advantage of that goodwill. Charity scammers often use the same methods as legitimate organizations – reaching out via phone, email or social media – but rely on deceptive tactics to steal your money. Imposter scams were the most reported fraud last year, accounting for nearly one in three fraud reports and costing victims $3.5 billion. According to the FTC, imposter scams occur when a criminal impersonates someone you trust or a well-known business to steal your money and personal information.
Rawls advises caution with organizations or callers who use high-pressure tactics to secure an immediate donation, refuse to provide detailed information about how the funds will be used or use similar names to reputable charities. “Before you give, take time to research the exact name of the organization online alongside the words ‘’scam’ or ‘complaint’ to learn about its reputation,” she says. “You can also verify their legitimacy and trustworthiness through resources like the Better Business Bureau’s Wise Giving Alliance at give.org or GuideStar.” Most importantly, it’s best to make your charitable contributions by check (made payable to the charity) or by credit card for security and tracking purposes, she adds.
Additional Awareness
Rawls offers these additional fraud awareness reminders:
• Avoid using public Wi-Fi for online transactions. Public networks are often unencrypted, which increases the risk of hackers stealing your bank or credit card information.
• Be cautious of unexpected verification texts about orders or deliveries. Scammers often use fake delivery texts or bank alerts to obtain your personal information.
• Watch for bank impersonators. Scammers will send fake bank security messages via text or contact you by phone claiming your account is restricted or there is an unusual transaction.
The best defense is a proactive mindset. “Always take a moment to process unexpected messages or links that have a sense of urgency,” Rawls says. “Scammers rely on creating a false sense of panic to bypass your better judgment.”
Arvest is an Equal Housing Lender and Member FDIC.
