The holiday shopping season is well underway and, many people are looking for coupons to cut the cost. Everyone loves coupons and like many things in our lives, coupons which used to be found commonly in newspapers and magazines have migrated online. Last year the Better Business Bureau issued a warning about phony coupons appearing on social media. Among the companies affected by these phony coupons were Bath and Body Works, Costco, Aldi, Starbucks and Trader Joe’s. As I have warned you many times in the past, Facebook has become a hotbed for phony online coupons. The phony coupons looks quite legitimate which means nothing because it is very easy to copy the company logos and make the coupons appear to be genuine. The way that many phony coupon scams work is that in order to qualify for the coupon, you must complete a survey in which you are required to provide much personal information that is used to make you a victim of identity theft. In other versions of the scam, the scammer actually asks for your credit card numbers. In yet another version of the scam you are required to buy many costly items in order to claim your “free” coupon. Many of the coupon scams also require you to forward the coupon to friends which make the phony coupons look more legitimate when they are received by your friends. Ultimately, in all of these scams, the coupons are worthless and you get nothing, but the opportunity to become a victim of identity theft. Here is a copy of a phony coupon appearing online. It was provided by the Identity Theft Resource Center.
If the coupon appears too good to be true, it usually is a scam. No company could cover the cost of giving away vast numbers of $75 coupons although sometimes, participants in legitimate surveys are promised a chance to win a prize in a drawing. Facebook is a favorite venue for scammers perpetrating this type of scam because often unwary victims will unwittingly share the scam with their friends. One way to determine if a coupon is legitimate is to look for the expiration date found on most coupons. The phony Costco coupon shown above like most phony coupons does not carry an expiration date. The best place to go to find out if a coupon is legitimate is to go to the company’s website to see what real coupons are being offered.
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