'Tis the season: Fraudsters ready to target holiday shoppers
Wednesday, December 7, 2022
Tips on how to avoid popular scams
As the holiday season swings into full gear, shoppers need to maintain their vigilance in guarding against fraud. While consumers navigate the tighter budgets this year due to higher inflation, fraudsters are likely doing the same, and will be extra desperate – and motivated – to take advantage of the seasonal rush.
Holiday fraud is a big business, and criminals stand to generate hundreds of millions of dollars in illicit gains during the shopping season. Combined retail sales for November and December could top $960 billion, according to a forecast by the National Retail Federation (NRF), an industry trade group. Fraudsters will be tapping into this volume.