Holiday Shopping 2024: Season of Giving or Getting Scammed?

The warning is not just about the financial impact, though that’s significant enough. According to the Federal Trade Commission (FTC), Americans lost $10 billion to scams in 2023, with holiday-related fraud making up a hefty chunk of that. And now? Scammers have even more tools in their arsenal, including AI-generated fake websites and phishing emails so realistic they could fool an eagle-eyed cybersecurity expert.

A high-stakes game of cat and mouse

What makes 2024 particularly perilous is the environment in which scammers are thriving. Online shopping is booming, with e-commerce sales projected to exceed $260 billion this holiday season. Scammers know this means millions of consumers click “Buy Now” with little hesitation, often on websites they’ve never visited.

The tactics they use are chillingly effective. Fake websites mimic legitimate retailers, luring shoppers with almost plausible deals. Phishing emails disguised as shipping updates prey on the chaos of multiple orders. The pressure to grab last-minute bargains or fix a “payment issue” makes us vulnerable, as we’re more likely to act on instinct than caution.

And let’s not forget about younger shoppers. The FTC notes that people aged 18 to 39 are 25% more likely to fall victim to scams than older generations. Why? Because they’re glued to e-commerce platforms and social media, where scammers thrive, disguising traps as irresistible holiday deals.

The red flags you can't ignore

• "Too good to be true" deals: A $50 PlayStation 5? An $800 MacBook for $199? These “deals” might make your heart race, but they should also make your scam radar ping. Fraudsters count on your excitement to override caution. Before you click, check the seller’s credibility. Go directly to the retailer’s official website instead of trusting links from emails or ads
• Fake websites: Scammers have mastered creating counterfeit websites that look eerily similar to legitimate ones. Always double-check the URL—look for “https” and a padlock icon. If the website name has odd spellings or extra characters (like “Amaazon.com”), it’s time to bail
• Phishing emails and texts: “Your package is delayed. Click here to fix the issue.” Sound familiar? These messages play on the stress of holiday shopping. Don’t fall for it. Instead, log into your account through the retailer’s official website to verify any claims. Avoid clicking on links in unsolicited emails or texts, no matter how convincing they seem
• Gift card scams: If someone insists you pay with a gift card—whether it’s a charity, a seller, or even a supposed family member—it’s a scam. No legitimate transaction requires payment via gift cards. Stick to credit cards, which offer better fraud protection
• Fake charities: The holidays inspire generosity, and scammers know it. Be wary of urgent pleas for donations, especially if they ask for wire transfers or gift card payments. Before contributing, verify charities through trusted platforms like Charity Navigator or the Better Business Bureau

What to do if you're scammed

Sometimes, despite your best efforts, scammers get the upper hand. If you’ve been caught in a scam:

• Report it: File a complaint with the FBI’s Internet Crime Complaint Center (IC3) at www.ic3.gov
• Contact your bank: Dispute fraudulent charges immediately
• Secure your accounts: Change passwords, enable two-factor authentication, and consider freezing your credit

Stay smart, shop safe

The holidays should be a time of giving, not grieving over lost money or stolen information. What we need is a shift in mindset. Pause before clicking. Question that email. And above all, remember that not every great deal is real. Scammers rely on our haste and trust. We can outwit even the craftiest fraudsters if we slow down and stay skeptical.

This year, let’s ensure that the season of joy isn’t overshadowed by regret. Shop wisely, protect your finances, and protect the spirit of giving from those who seek to exploit it.