Holiday Scams

Holiday Scams-Fake Online Stores



As the holidays approach, it’s crucial to remain vigilant, as scams often increase during this time. One prevalent threat is fake online stores – also known as lookalike or fraudulent product sites.

Be Aware of Red Flags

  • Unbelievably Low Prices: Deeply discounted prices on popular items may indicate a scam.
  • Suspicious Ads: Be cautious of social media ads linking to questionable sites.
  • Lack of Contact Info: Poor website design or missing contact information can be warning signs.
  • Limited Payment Options: Avoid sites with few payment methods and no legitimate customer reviews.
  • Urgent Offers: Be wary of unclear return policies and high-pressure sales tactics.
During the 2022 holiday season, the FBI reported nearly 12,000 victims of non-payment or non-delivery scams, resulting in over $73 million in losses. In 2023, these scams cost consumers more than $281 million, according to the FBI’s Internet Crime Complaint Center (IC3).

Tips to Protect Yourself

Practice Cyber Hygiene
  • Think Before You Click: Avoid clicking on suspicious links or attachments; phishing scams can steal your personal information or introduce malware.
  • Go to the Source: Don’t reply to texts or emails about account lockouts or claims of suspicious orders. Instead, go directly to the official website or app to check your account.
  • Verify Contact Info: If a company requests sensitive information, independently verify their contact details before responding.
Research Before You Buy
  • Check Website Security: Ensure websites use “https” in their URLs and check for customer reviews before making purchases.
  • Review Feedback: Verify buyers and sellers on marketplaces by reviewing feedback ratings and being cautious with unfamiliar accounts.
Stay vigilant and informed to protect yourself this holiday season.

Sources:
  • Thomson Reuters (November 30, 2023). Risk Fraud & Compliance. Check the Halls: As fraud around the holidays increases, there is possible relief in sight.
  • Federal Bureau of Investigation (2023). How We Can Help You. Scams and Safety. Common Frauds and Scams: Holiday Scams.
  • United States Department of Justice (December 5, 2023). U.S. Attorney's Office Warns About Common Holiday Scams.
The above referenced sources are provided as a courtesy. Signature Bank does not endorse or control the content of these sources or websites.