![]() While it’s fun to be included, the BBB said this is one invitation to decline.Ĭopyright 2020 by KSAT - All rights reserved. “We want you to know it could turn sour quickly when you are sending gifts to people you don’t know who are part of this list.” “We don’t want people to be a Grinch,” Meza said. While it may sound like fun, the BBB said it’s an illegal pyramid scheme. You provide your address and information, as well as that of some friends and you pass along the invitation. You buy one $10 gift and will receive as many as 36 gifts in return. Participants in online gift exchanges may not know its against federal law, and could result in federal prison time. The scam begins with an invitation, typically through Facebook. It becomes a form of gambling,” said BBB Regional Director Jason Meza. but the gift exchange quickly becomes something where it becomes illegal. “It’s a very fun pay-it-forward kind of scenario. The Secret Sister or Secret Santa Gift Exchange is another scheme making the holiday rounds on social media, one that’s illegal, the Better Business Bureau warns. If you do suspect a real problem, look up the real contact information for yourself and verify. Do not press one or call back at the given number, the FTC warns. The FTC says the calls are fraudulent, and are attempts to steal your account or credit card numbers or other personal information. Again, the person is to press one or call back at a certain number. In the Apple version, the caller says the person’s iCloud account has been breached and they shouldn’t use any Apple device until the suspicious activity is addressed. Once again this holiday, posts on social media are being shared over and over again about the Secret Sister Gift Exchange. To cancel the transaction, the person is instructed to press one to cancel or to stay on the line to speak with someone. BREAKING NEWS How to watch the coronation of King Charles III live. One call says an iPhone for $749 is being ordered. Once again this holiday, posts on social media are being shared over and over again about the Secret Sister Gift Exchange. In the Amazon version, the caller says there is some sort of problem with a purchase. A similar scam impersonates another big company, Apple, according to the FTC. The Federal Trade Commission warns that scammers are calling, pretending to be from Amazon trying to confirm a big purchase. "The odds are likely greater that Santa Claus, himself, would fly his sleigh into the middle of Times Square to personally distribute the gifts," Krenn said.SAN ANTONIO – As holiday shoppers log on to Amazon in record numbers, scammers are stealing the moment - and maybe more. That ‘holiday gift exchange’ Facebook post is technically an illegal scam A gift exchange post going around on Facebook could land you on Santa’s naughty list - and in trouble with the. Gifts are often not needed or even wanted. He added that mathematically, by the time the hoax got to the 11th round everyone in America would have to be involved in the scheme for it to deliver the gifts it promises. Here are some reasons not to exchange gifts during the holidays. It’s mathematically impossible to sustain." "However, for everyone to receive what they’ve been promised, each layer of the pyramid must attract new recruits. "As the gifts start to flow, early entrants may benefit," he said. ![]() He said people shouldn't be fooled by people who are posting they have received gifts, as it's impossible for the hoax to deliver what it promises. The idea was, eventually your name would be at the top and you would receive a huge return on investment.īut, Paul Krenn, a spokesman for the USPIS, told BuzzFeed News that the hoax just ends up taking your money, in this case in the form of gifts. In the past, people would receive a letter (lol I know right?!) asking them to mail a small amount of money to a person at the top of a list. Such scams, which are also known as "pyramid schemes," existed long before social media, and used to be conducted through the mail, according to the U.S.
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