The Holidays are just around the corner, unfortunately so are the Holiday Scams!

In 2022, nearly 75% of Americans experienced at least one type of holiday related scam during the season. While scams can occur across nearly any platform, here are some of the most common scams we see and hear about:

Social Media Ads That Lead To Fake Online Stores

Fraudsters use ads on social media to try and get you to go to fake stores that take your money, credit card details, and personal information. The safest way to shop online is to create a new tab in your internet browser and search for the website/online store you would like to purchase from instead of clicking the social media ad.

Fake Missed Delivery Notification Texts

Scammers will send a fake text message that claims a package you’re waiting for has been delayed and to click a link to see delivery instructions or asking you to confirm payments for a purchase you didn’t make. In either case, do not click or reply to the text (or email).

When making online purchases, the company you’re purchasing from would collect the full amount due, including shipping, prior to sending an item. If you receive a text asking to confirm or decline a purchase but you haven’t made any online purchases, don’t click or respond to the message. Doing so can infect your phone with malware which can give access to your phone and online records to a bad actor. Here is an example of a fraudulent text message:

Fraudulent Charity Or Crowdfunding Pages

A fraudster may create a fraudulent charity or create a GoFundMe page claiming to help someone. They generally make up a story designed to tug at your heartstrings in order to convince you to give as much as you can afford to help their cause. Before donating money, make sure to verify the request with other trusted sources.  Never rely on someone you just met or called you out of the blue to ask you to donate.

Gift Card Scams

Gift card scams take place whenever someone asks you to pay for a product or service in the form of a gift card(s). This can include requests to get someone out of jail, as a way to catch up on past due bills or to buy something that you saw in an online advertisement. If anyone requests payment for something in the form of a gift card, we encourage you to find a way to end the conversation.

Romance Scams

Romance scams generally increase around the holidays. Friends and family who may be lonely or missing their special someone often turn to online sites to provide them with someone to talk to or create a relationship with. Predators comb these sites every day looking for someone they can take advantage of. 

In the beginning it seems as though everything is going well. They may be sharing pictures, having conversations over the phone, and talk of a future together. This helps further the victim’s confidence in finally finding someone to share their life with.

Usually, plans are then made to meet each other in person, or a serious situation comes up where the fraudster needs money right away. They need the funds to get them through customs, help their child or grandchild, stop a house from being foreclosed on, etc. The fraudsters will continue to ask for money for as long as you’re willing to send it. 

“Too good to be true” Deals

Be leery of deals on hard-to-find items or airline tickets. Many schemes take advantage of popular holiday items or inflated travel costs to get you to buy fake tickets or items. 

Brand Impersonators

Fraudsters will impersonate well-known brands or companies to steal your personal information. Scammers will send emails, texts, or call you claiming to be from well-known places like Amazon, Walmart, etc. Through discussion with you (likely without you even realizing) steal your login information, personal identification information or your money.

The chart below, from AARP, breaks down some of the most common fraud scenarios over the last year.

Fraud happens every day. Sometimes it’s easy to identify, but more times than not, you don’t even realize you’re falling victim to fraud and it’s too late. Whenever you encounter something that doesn’t seem right, reach out to your trusted Lake Ridge Bank banker, talk to your family and friends, and in more drastic cases reach out to law enforcement.

Together, let’s keep this Holiday season Fraud-Free!