It’s the holiday shopping season and many consumers are searching online and social media for the perfect gifts. While shopping online is easy and convenient, Better Business Bureau® (BBB®) warns online shoppers searching for gifts and other merchandise to do their research, be mindful of social media scrolling, and use credit cards to avoid scammers.
The warning is an update to BBB’s in-depth study, Theft on a Massive Scale: Online Shopping Fraud and the Role of Social Media, issued last December.
Online shopping scam reports to BBB Scam Tracker remain just under all-time highs reached in 2021 with losses approaching $380 million. According to an October BBB Institute for Marketplace Trust report, scams being perpetrated online have risen 87% since BBB Scam Tracker launched in 2015.
Of those reports, a vast majority of consumers lost money, making online shopping fraud one of the most dangerous and successful, according to the BBB Institute’s research.
In many cases reported to BBB’s Scam Tracker, the scammers entice shoppers with hard-to-find items, low prices, and fast delivery. Nearly 36% of all online retail fraud reports to BBB Scam Tracker originated through a fake website. Scammers used social media and email to initiate about 40% of reported scams.
Fraudsters found the shift to online shopping to be lucrative and convenient, molding their efforts into various forms meant to trick shoppers. Items consumers receive may be completely different…
