The holiday shopping season is right around the corner, and now is the time to get ready. If you want to buy presents for your friends and family, you need to shop smart, and above all, you need to avoid these common holiday scams.
Social Media Holiday Scams
These days social media advertising is a big part of the holiday shopping market, but the deals are not always as good as they appear. If you buy a gift based on an influencer recommendation, that person will take a cut of the profits — so it’s hardly an impartial recommendation.
Buying directly from an ad on social media could be risky as well, since the retailers are often shady, and there is no guarantee the products will arrive in good condition — or at all.
Counterfeit Product Scams
When you go online, you might encounter ads for deals that seem too good to be true, like a $1,000 designer purse for less than $100 or a high-end watch for 80% off its usual price. Those come-ons are certainly enticing, but in the end, they really are too good to be true.
Most likely, the products being advertised are counterfeits, cheap knock-offs that lack any real quality. And when the phony product inevitably breaks, the legitimate manufacturer will not be able to help you with a repair or replacement. If the price seems too good to be true, just move on and shop elsewhere.
Credit Card Skimmers
If you plan to hit the malls this holiday shopping season, you will want to look before you swipe. Credit card skimmers are tiny devices that are inserted into credit card machines, and they are designed to steal your information when you make a purchase.
These credit card skimmers are often placed at gas pumps and other unmanned locations, but they can be found in other places as well. It only takes a minute to check, and it could save you a lot of money and a ton of hassle.
Phony Text Messages
With so many people shopping on their smartphones, scammers are getting savvy. They are sending out fake text messages touting products that will never arrive or services that will never be delivered.
It’s always risky to purchase through an unsolicited text message, and you should never click any embedded link if you are not 100% certain where it came from. If you are interested in making a purchase, go directly to the website to complete the transaction.
Fake Invoice Notifications
A growing number of smartphone users are finding phony emails and text messages in their inboxes. These messages appear to be legitimate, and they claim the victim has made a major purchase.
Would-be victims of this scam are asked to click a link or call a phone number, and when they do, they are asked to provide access to their devices or personal information such as bank accounts and credit card numbers. If you receive a suspicious message like this, contact your credit card company directly to make sure no new charges have been posted. The credit card company can help you get any fraudulent charges taken off your account and give you guidance on how to avoid other holiday scams.
The holiday shopping season should be a time of fun and friendship, not financial fraud and scams. If you want to shop safely this holiday season, knowing about the growing threats is always a good place to start, so be aware and do what you can to protect yourself and your money.