The FTC says these schemes may target consumers during the holidays
Consumers should keep their guard up against scams all year long. But the Federal Trade Commission (FTC) says scammers tend to step up their game during the holidays when people are more active online and making contributions to charity.
The FTC has published a ranked list of the most common scams in the third quarter, based on complaints lodged with the agency. It says it expects scammers to continue to push these schemes on unsuspecting consumers throughout the holidays.
The top 10 scams are:
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Imposter scams
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Online shopping and negative reviews
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Investment related
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Business and job opportunities
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Internet services
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Telephone and mobile services
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Health care
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Travel, vacations, and timeshare scams
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Prizes, sweepstakes, and lotteries
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Foreign money offers and fake check scams
Financial losses
There is a wide range of imposter scams, with thieves pretending to be government agencies or large corporations. Twenty percent of the people reporting the scam to the FTC said they suffered a financial loss averaging $1,000.
But it is investment scams that appear to be the most dangerous. In the third quarter, 69% of people reporting this scam said they lost money. The average loss was more than $5,000.
Online shopping and negative reviews involved everything from undisclosed costs to failure to deliver a purchased item. That scam resulted in a financial loss for 48% of those who reported it,…
