‘Twas the week before Christmas, when all through the internet
Not a creature was scheming except a scammer you’d never met.
According to Mary O’Sullivan-Andersen, President and CEO of the Better Business Bureau, Canadians are expected to spend $15 billion this holiday season and much of that shopping will take place online where they are particularly vulnerable to scams.
Since fraudsters don’t take holidays, here are 12 scams to watch out for this Christmas season:
On the first day of Christmas, some scammer showed to me . . .
A misleading ad on my social media feed: Before ordering any product you see on Facebook, Instagram, or other social media platforms, check out the business’s profile on BBB.org and read the reviews to ensure the company and the product are legitimate.
On the second day of Christmas, some scammer sent to me . . .
An opportunity to give a gift to a stranger in secrecy: This online version of “Secret Santa” encourages you to buy a gift or send money to ‘pay it forward’ to a stranger. In addition to tricking you into sending money or gifts to unknown individuals, this scam may also ask you to share personal information, along with information for your family and friends so that they can participate in the gift exchange as well.
The best way to avoid this scam is to stick to buying your friends gifts from businesses you know and trust.
On the third day of Christmas, some scammer shared with me . . .
Holiday apps and all for free: There are numerous holiday-themed apps out there that advertise an opportunity to chat live with Santa or track his reindeer on Christmas Eve.
Before downloading anything, review the app’s privacy policy to understand what information will be collected and read through the reviews. Be especially wary of free apps as they can contain malware designed to steal your information or damage your computer.
On the fourth day of Christmas, some scammer pitched to me . . .
Fake investments promising to make me wealthy: Be cautious of unknown individuals who reach out to you online or over the phone with an investment opportunity, especially if they apply pressure to get you to make a quick decision.
Always do your research and consult trustworthy sources, such as your investment advisor or checkfirst.ca, before investing.
On the fifth day of Christmas, some scammer tempted me . . .
With free gift cards for the whole family: Nothing gets our attention like the word “free”. Scammers take advantage by sending bulk emails or text messages requesting personal information to receive free gift cards.
If you receive an unsolicited email with gift card offers, do not open it or click on any links. Instead, mark it as spam and delete it.
On the sixth day of Christmas, some scammer offered me . . .
A job that seemed way too easy: If you have a child or grandchild who is looking to earn a little extra money this holiday season, beware of opportunities that seem too good to be true.
Retailers and delivery services often hire extra staff around this time of year to keep up with the holiday rush. But be wary of taking a job with an employer you have never met as they may be trying to steal personal information from applicants.
On the seventh day of Christmas, some scammer tried to dupe me . . .
With impostor sites and phony pleas: When shopping online, be on the lookout for fake websites designed to trick you into downloading malware, making dead-end purchases, or sharing private information.
Clues that the website may be fraudulent include poor design, spelling or grammatical errors, and missing contact information.
On the eighth day of Christmas, some scammer tried to appeal to me . . .
With donation requests from phony charities: ‘Tis the season of generosity! But be aware that scammers are creating fraudulent charities and even pretending to be individuals in need to get your money.
Avoid donating to unfamiliar organizations, especially when they try to pressure you to act with urgency. Before giving money, verify the charity on the Canada Revenue Agency website.
On the ninth day of Christmas, some scammer emailed me . . .
Shipping notifications as fake as can be: Holiday purchases lead to an increase in the number of shipping notifications going out from retailers and delivery companies.
If you receive an email or a text about a package you’re not expecting, don’t open it or click on any enclosed links. To track something you purchased, find the original email or text confirmation you received from the store and use the link they provided.
On the tenth day of Christmas, some scammer tried to fool me . . .
With advent calendars so lovely: Each year, more and more advent calendars are sold, many offering luxury treats. When ordered, the calendars either never arrive or an inferior product is delivered in place of what was promised.
On the eleventh day of Christmas, some scammer offered me . . .
The hottest toy of the season, but all too cheaply: Popular toys that are offered at a lower price than you can find at well-known retailers are most likely knockoffs.
Be careful of purchasing popular toys from Facebook Marketplace and other resale platforms.
On the twelfth day of Christmas, some scammer showed to me . . .
Puppies too cute to believe: If you’re looking for a furry friend this holiday, beware that many pet advertisements online may be fake.
Take your time making this important decision, never buy a pet you haven’t met, and consider adopting an animal from your local humane shelter.
Here are 6 tips for safe online shopping from the Better Business Bureau:
- Do not click on unsolicited links.
- Look for HTTPS in the web address as the ‘s’ indicates it is secure.
- Use a credit card when making online purchases so that you can dispute a transaction if necessary.
- Shop with online retailers you know and trust.
- Ensure the security software on your computer is up-to-date.
- Forget online shopping and check out your local stores!
Thank you to the Better Business Bureau for the tips and insight.
Now, happy Christmas to all and to all a good night!
David Popowich and Faisal Karmali are Investment Advisors with CIBC Wood Gundy in Calgary. The views of David Popowich and Faisal Karmali do not necessarily reflect those of CIBC World Markets Inc.
This information, including any opinion, is based on various sources believed to be reliable, but its accuracy cannot be guaranteed and is subject to change.
CIBC Private Wealth consists of services provided by CIBC and certain of its subsidiaries, including CIBC Wood Gundy, a division of CIBC World Markets Inc. Insurance services are available through CIBC Wood Gundy Financial Services Inc. In Quebec, insurance services are available through CIBC Wood Gundy Financial Services (Quebec) Inc. The CIBC logo and “CIBC Private Wealth” are trademarks of CIBC, used under license. “Wood Gundy” is a registered trademark of CIBC World Markets Inc.
