Consumers should be on high alert over the next few weeks as an unprecedented number of holiday scams are expected. According to Adobe, Americans set online shopping records on Black Friday and Cyber Monday, which projects that $221 billion will be spent before the month’s end.
Social Catfish – a company combatting online scams using reverse search technology – released a study on the State of Internet Scams in 2023 using 2023 data from the FBI and FTC.
Americans lost a record $10.3 billion to online scams last year and Kentucky ranked No. 31 in the nation with 4,256 victims losing $57 million. To avoid higher losses this year, the company warns consumers to remain vigilant as scammers have grown increasingly sophisticated and will be more active over the next few weeks than any other time of year.
5 Hot Holiday Online Scams to Avoid Right Now:
- Sold Out Toy Scam: Scammers have their fingers on the pulse and know which holiday toys are in demand. They know girls will be clamoring for Barbie and offer these products at extremely low prices, even when sold out elsewhere.
- How to Avoid: Google the retailer and the word “scam” to see if anything pops up.
- Secret Santa: Scammers use social media to set up online gift exchanges to capture the holiday spirit. Unfortunately, they rake in the cash and prizes without reciprocating.
- How to Avoid: Perform a reverse search to verify the identity of the person you are gifting.
- Grandparent AI Scams: As holiday travel increases, scammers will use AI to “voice clone” a person based on their social media videos. Grandparents may get a call from “their grandchild” saying they are in danger and need money sent immediately. It is a scam.
- How to Avoid: Establish a safe word for your family if anyone is in trouble.
- Compromised Amazon or Bank Account Scams: With transactions ramping up during the holidays, scammers send texts and emails claiming your Amazon or bank account has been compromised. They ask you to verify the account but steal your money.
- How to Avoid: Do not respond to the message. Contact the business directly.
- Fraudulent Websites: Scammers create fake websites using familiar logos from well-known retailers. They appear legitimate, but any gifts purchased will never arrive and any personal information provided may lead to identity theft.
- How to Avoid: Use Who.Is to see when the website was created. Beware of poor grammar.
