Beware of Holiday Season Fraud

Goodwill rises during the holidays – but be careful – so do holiday scams.

By Andrea Ganzman, Director of Digital Marketing & Creative, NJBankers On Nov 12, 2025

‘Tis the season for holiday cheer, along with gift giving and charitable goodwill. Unfortunately, holidays are also a time when financial scams are on the rise. According to the Federal Trade Commission (FTC), consumers reported losing more than $12.5 billion to fraud in 2024, which represents a 25% increase over the prior year.

“Fraudsters take advantage of the holiday season due to increased spending on shopping, travel, and charitable donations,” says Juliana Bogatinoska, CFE, CAMS – vice president/BSA officer at Toms River-based OceanFirst Bank. “Don’t let the Grinch steal your holiday cheer, stay alert and protect yourself from scams.”

Bogatinoska says that common holiday scams include: non-delivery scams, where fake websites take your money, but never send the item; gift card fraud, in which scammers pose as authorities or loved ones to steal card details; fake charity solicitations that take advantage of people’s goodwill during the holidays; and package delivery scams involving phony messages asking for personal information or payment to release a package. 

At Fairfield-based Kearny Bank, Ken Helmrich, CAMS, senior vice president, director of AML/CFT and sanctions compliance, says the financial institution has seen a marked increase in scams involving clients targeted by someone claiming to be from the bank. The fraudsters work to convince bank clients to release online banking credentials or other sensitive information. 

Plus, Helmrich notes, older clients are generally targeted more often than other demographics. The FTC revealed that the median loss for all fraud reports in 2024 was $497; the median loss for individuals in their 70s was $1,000, and for those in their 80s, it jumped to $1,650.

To help combat fraud, Helmrich says Kearny Bank offers in-person educational events, statement messages, in-branch signage and handouts, and posts updates to the bank’s website.“We partner with local groups to schedule in-person events to raise awareness about scams that we’re seeing, as well as local law enforcement on individual cases at their direction,” he adds.

OceanFirst Bank is also partnering with external organizations including local law enforcement agencies and the Association of Certified Fraud Examiners to raise awareness and help prevent holiday-related scams, along with providing targeted training to its front-line staff. Plus, the bank educates consumers in a variety of ways, including through its weekly “Tuesday Tips” on social media and real-time alerts on in-branch TV screens.

“At OceanFirst Bank, we want to help you stay safe from holiday scams by sharing a few simple, but important tips,” Bogatinoska says. “Be cautious of suspicious phone calls and never share personal information unless you initiate contact. We recommend setting up account alerts to monitor your transactions, shopping only on secure websites, and verifying charities before making donations.”

Plus, she says, consumers should avoid paying with gift cards when possible, protect their identities with strong passwords and proper document shredding, and report any suspicious activity to their banks or directly to the FTC at reportfraud.ftc.gov.

“We’re here to help you recognize these threats, stay informed, and feel confident knowing you have a trusted partner looking out for your financial well-being,” Bogatinoska adds.

To access more business news, visit NJB News Now.

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