With approximately 82 percent of Americans planning to travel this summer either domestically or abroad, the Ohio Department of Commerce Division of Financial Institutions reminds travelers to take steps to protect their finances and belongings from potential scams.
For many, danger can exist before they ever leave home for the airport. According to a 2023 survey from McAffee, approximately 30 percent of adults have fallen victim or know someone who has fallen victim to an online scam while trying to save money when booking their travel arrangements.
In addition, 34 percent of respondents who reported having money stolen lost over $1,000 before their trip ever began and 85 percent of adults had either some or a high level of concern around their identity being compromised as part of their travel.
“Preparedness and vigilance are key when it comes to financial safety during travel, so we encourage everyone to take these precautions seriously to fully enjoy their trips,” said Robert Rutkowski, deputy superintendent of the Division of Financial Institutions. “By understanding potential risks and adopting preventive measures, travelers can enjoy their journeys without financial worries.”
The Division offers the following tips to Ohioans who plan to travel this summer – or at any time.
Choose the right payment methods
- Credit cards: Familiarize yourself with your credit cards’ travel-related perks and benefits such as rental car insurance and trip cancellation insurance. Make sure you’re using cards that don’t have foreign transaction fees.
- Notify your card issuer: Inform your credit card company of your travel dates and destinations to prevent your transactions from being flagged as suspicious.
- Emergency contact nNumbers: Keep a list of emergency contact numbers for your credit cards separate from your wallet for quick access in case of loss or theft.
- Debit cards: Carry a debit card for accessing cash, ensuring it reimburses you for ATM fees.
- Cash: Obtain local currency in advance to reduce frequent ATM visits. Keep your wallet secure and consider carrying cash and cards separately to minimize loss risk.
Protect Your Wallet and digital information
- RFID-blocking wallet: Purchase an RFID-blocking travel wallet to prevent digital theft.
- Anti-theft bags: Use bags with anti-slash straps and locking zippers.
- Inform your bank: Notify your bank about your travel plans to avoid potential account freezes due to foreign transactions.
- Dummy wallet: Consider carrying a decoy wallet with minimal cash and expired cards to divert pickpockets.
Stay vigilant against scams
- Research your destination: Do some quick online searches to learn about any common scams in your travel destination.
- Personal details: Never share personal information over the phone or online, especially on social media platforms.
- Unsolicited offers: Be cautious of enticing deals or investment opportunities from strangers.
- Cybersecurity: Install antivirus protection software and keep your devices updated to prevent potential cyberattacks.
Get travel insurance
- Travel insurance: Provides coverage for unexpected events such as trip cancellations, medical emergencies and lost luggage.
- Credit card benefits: Check to see if your credit card offers travel insurance benefits and evaluate if additional travel insurance is needed for extended trips.
Be on the lookout for scammers
Tourists can be an easy target for scammers, so it’s important to be watchful of belongings and cash. Popular scams include credit card skimming, which is common at ATMs and gas stations. Always shield your PIN when using ATMs and avoid giving passports or credit cards as security deposits.
Pickpockets also are a common threat in crowded tourist spots like Barcelona, Paris and Rome and they may work alone or in teams to distract unsuspecting tourists. Travelers should be cautious when shopping with street vendors, as some may compromise your credit card or give you incorrect change.
What to do if you’re robbed abroad
If you are robbed while traveling, immediately contact the local police and file a report. Make sure to obtain a copy of the report for insurance claims. Notify your bank if your credit card is stolen and contact the nearest U.S. embassy if your passport is taken. Monitor your credit report for any unauthorized activity if your personal information is compromised.
By following these tips, travelers can enjoy their trips with peace of mind, knowing their finances are protected.
To learn more about the Ohio Department of Commerce, visit com.ohio.gov….
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