If you’re among the millions of Canadians doing their holiday shopping in the coming days and weeks, there’s no better time to brush up on the simple steps you can take to shop safely. Whether you’re using cash, your debit card or credit card in stores or online, there are precautions you can take to ensure your money and your identity are protected from thieves.

Shopping safely in stores

Whether you’re using your debit card, credit card, cash or a cheque to pay for your purchases, the easiest tip to remember is just to use common sense. Protect your payment cards the same way you protect your cash and wallet from pickpockets. Make sure your cards are returned to you and double-check to make sure they’re yours. Here are a few additional tips to keep in mind:

• Always protect the Personal Identification Number (PIN) for your debit card. Never share it with anyone, write it down, or lend it out. Use your hand or body as a shield when entering your PIN on a keypad.
• If your debit or credit card is lost or stolen, report it to your financial institution immediately.
• While out holiday shopping, only carry the cards and personal identification that you need with you; leave the rest at home.
• If anything seems unusual about an automatic bank machine (ABM) or point of sale terminal, don't use it; report the situation to police or your financial institution.
• Once the season is over, make it a habit to sit down with your monthly statements or view your account information online and look for any unusual transactions. If you see anything unusual, report it to your financial institution immediately.

Shopping online

According to the most recent Statistics Canada Household Internet Use Survey (2003), Canadian households spent just over $3 billion shopping on the Internet for everything from airplane tickets to books. If you’re planning on doing your shopping in front of the computer screen, the Internet should be used with confidence, but also with common sense. You wouldn’t give out sensitive personal information to just anyone, so use the same discretion while shopping online. Here are a few tips:

• Be skeptical. If a deal sounds too good to be true, it probably is, especially in the online world.
• Never give your credit card number or personal banking information out over the phone or while shopping online unless you have initiated the transaction and know you are dealing with a reputable company.
• On the Internet, whenever entering personal information, including your credit card number or sensitive financial information, ensure that you are using a secure website. Look for “https://” rather than just “http://” in the address bar of your Web browser as well as a closed padlock in the bottom right corner of your browser.
• Make sure you are aware of an online scam called “phishing”, where criminals will send out e-mails asking for personal information, such as banking passwords or social insurance numbers. These e-mails look like they’re from legitimate organizations, and even include logos, but they are from criminals. If you have any doubts about the validity of any promotions or information requests you receive by e-mail, you may wish to call the organization to verify the legitimacy of the request. Be sure to use a phone number that you know is correct, not the number that appears in the e-mail.
• Make sure that your home computer is protected. Install anti-spam, anti-spyware and anti-virus software and make sure they are always up-to-date. You should also install a personal firewall to act as a barrier to viruses and other external attacks and check for operating system patches and upgrades on a regular basis. Your local computer store can help you with this.

Remember, your bank is there to protect you. Banks have highly sophisticated security systems and teams of fraud experts in place to protect customers and prevent and detect credit and debit card fraud so shop with confidence and have a great holiday season!

For more tips, or to download the CBA’s free booklet, Safeguarding Your Money, visit the Fraud and Security section of the Canadian Bankers Association website. Booklets are also available by mail by calling 1-800-263-0231.

Canada’s banks take the issue of privacy, security and fraud prevention very seriously. They work hard to prevent their operations and customers from being used for any kind of financial crime and to raise awareness about the ways that customers can protect themselves.

As a consumer, you also have an important role to play in preventing fraud. This month we’ll be taking a look at how to ensure your money is protected while holiday shopping both in stores and online.