The 12 Days of Holiday Fraud – Day 4: Fake Holiday Marketplaces

The winter holidays are upon us and scams that leverage the holiday season to target you are in full effect right now. 

Today, we present Day 4 of The 12 Days of Holiday Fraud – our version of the holiday classic The 12 Days of ChristmasWe’re warning about the top 12 scams we see leading up to the holidays and how to avoid falling victim to fraudsters. 

“On the fourth day of the holidays, my scammer targeted me with  . . . 

DAY 4: Fake Holiday Marketplaces 

This scam is an example of how fraudsters are using the effects of the COVID-19 pandemic to their advantage. 

Many communities host an annual holiday market, which people can attend to buy various gifts and products. However, due to COVID-19, most of these events have been cancelled in 2020. 

Fraudsters see these cancellations and then get news out that due to COVID-19, this year’s event will be a virtual marketplace. They invite you to attend by paying an entrance fee of $10 or $20 that goes to supporting the community or a local charity. 

If you pay the entrance fee, which might be a small amount, the fraudsters then may solicit for add-ons such as raffle tickets or donations, which is where they can start to really rack up the bucks. 

Holiday Tips 

  • If you’re notified about a virtual holiday marketplace you normally attend in person, contact the organization that typically plans the event to see if they’re hosting it virtually. 
  • If the organization confirms they are having a virtual event, find out if they’re charging an entrance fee and for what amount. Ask how people are being notified and if by email, from what email address. If something seems off when receiving these types of emails, call the organization at the number you know it to be. 

Stay tuned for 12 Days of Holiday Fraud – Day 5. 

Check out Day 1: Secret Sister Gift Exchange. 

Check out Day 2: Requests for Charitable Gifts. 

Check out Day 3Secret Santa Shopper. 

 

© 2020 Buckingham Strategic Partners®

The contents of any report published herein are for informational and educational purposes only. The articles are not to be construed as investment, tax, financial, accounting, or legal advice. Individuals should seek independent advice from a tax professional based on his or her individual circumstances.

The analysis contained in any publication published or otherwise disseminated by Buckingham Strategic Partners (BSP) on this site is based on the data available at the time of publication which may become outdated or otherwise superseded at any time without notice, and the opinions of BSP. Certain information contained therein is based upon third-party sources, which BSP believes to be reliable, but is not guaranteed for accuracy or completeness. Neither the SEC nor any other federal or state agency or non-U.S. commission has confirmed the accuracy or determined the adequacy of information published or disseminated by BSP. Any publication or dissemination of information to the contrary is unlawful. Each reader acknowledges the contents published or otherwise disseminated by BSP is the sole property of BSP and any reproduction or distribution of such information, in whole or in part, other than for its intended purpose with credit provided to BSP, is prohibited. BSP reserves the right to remove, alter, edit, or adapt any third-party content published, contributed, or subject to applicable law.

By clicking on any of the links within the articles on this site you acknowledge that they are solely for your convenience, and do not necessarily imply any affiliations, sponsorships, endorsements or representations whatsoever by us regarding third-party Web sites. We are not responsible for the content, availability or privacy policies of these sites, and shall not be responsible or liable for any information, opinions, advice, products or services available on or through them.