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Watch out: Fake coupons spreading on social media
If you haven’t done the bulk of your Christmas shopping by now, you might have to brave the hordes of people crammed into a mall. If you’re shopping online, don’t fall for this fake seller scam.
A recent study found that the average American spends around $800 on holiday gifts. That’s a lot of money, so you might consider using coupons to lessen the financial blow. But before you signup for that website that promises amazing discounts, be careful.
Read on to see how scammers are taking advantage of coupon clippers and stealing their information.
Here’s the backstory
If you read a newspaper or magazine after October, there is a good chance you’ll come across a discount coupon. It’s usually not a lot, 15% off here or a 5% discount there. But every little bit helps.
But the Better Business Bureau (BBB) is warning about fake coupons floating around online that you need to know about.
Here’s how it works. You come across a website through a web search or a social media ad for coupons from major retailers. In most cases, phony coupons are worth much more than real ones, offering steep discounts of up to 80% off. Spoofing official logos makes it nearly impossible to tell it’s fake.
Sometimes, getting the coupons requires subscribing to a coupon service and paying a monthly membership fee. Once you sign up, the service promises to send you digital or paper coupons in the mail.
The thing is, you may never receive any coupons, or you might receive bogus coupons. Plus, by signing up, you’ve handed over your details and possibly credit card information to a thief.
You may also come across coupons offering deals in exchange for sharing a link on social media. Don’t do it!
The link leads to a third-party website where visitors enter personal information in exchange for the coupon. In most cases, after signing up, you don’t receive coupons. Instead, you’ve given personal details to scammers.