Holiday shopping is in full swing and if you’re overwhelmed by your gift lists, you’re not alone. Purchases you make through the links below may earn us and our publishing partners a commission. Visit the BBB Holiday Tips page for more tips on shopping safely this season.- Recommendations are independently chosen by Reviewed’s editors. More information on scams is available by visiting the BBB scam news feed. You will receive little to no money back on your “investment” or gift exchange. No matter what they claim, pyramid schemes will not make you rich. These imposter schemes are false as the government will never endorse illegal activity. Some pyramid schemes try to win your confidence by claiming they’re legal and endorsed by the government.
This will open you up to identity theft and other scams. Never give your personal information to strangers.If you receive an invitation to join a pyramid scheme on social media, report it to Facebook by clicking in the upper right-hand corner and selecting “report post” or “report photo.” Stop and ask, is it worth breaking the law? Report it instead to Canadian agencies or to the U.S. Chain letters involving money or valuable items and promising big returns are illegal. Ignore it! Keep in mind that pyramid schemes are international.The next time someone promises a bounty of gifts or cash by mail, email, or social media, BBB recommends the following: With just a few pieces of information, cyber thieves could expose you to future scams or commit identity theft. When signing up, the alleged campaign organizer is asking for personal information such as a mailing address or an email. There is another layer of danger to participating in these schemes. Postal Inspection Services explains that these gift exchanges are considered a form of gambling and that participants could be subject to penalties such as jail time, fines, or a lawsuit for mail fraud. It should be noted that pyramid schemes are illegal in the US and Canada. Once people stop participating in the gift exchange, the gift supply stops as well and leaves hundreds of disappointed people without their promised gifts or cash. Just like any other pyramid scheme, it relies on the recruitment of individuals to keep the scam afloat. In all of these versions, you give away your personal information, and you’re left with buying and shipping gifts or money to unknown individuals, in hopes that the favor is reciprocated by receiving the promised number of gifts in return. There was even another new twist called "Secret Santa Dog" where you are asked to buy a $10 gift for a "secret dog." Next, it’s your turn to send an email or social media invitation to send a modest gift or bottle of wine to a stranger along with their friends, family, and contacts.Ī newer twist on the idea asks you to give your e-transfer email and asks users to pick a name off of a list and send money to strangers, to "pay it forward." All you must do is provide your name and address and personal information of a few additional friends, and tack this information onto a list that’s already started of people you’ve never met on the internet. The scheme starts with a convincing invitation, either by email or social media to sign up for what seems like a great, fun program. You might see references to receiving "happy mail" or doing the exchange "for the good of the sisterhood." During the 2022 holiday season, be aware of variations of this theme that may crop up on social media. A newer version of this scam revolves around exchanging bottles of wine another suggests purchasing $10 gifts online. Each holiday season, the scheme pops back up. The “Secret Sister” gift exchange campaign quickly became popular several years ago through Facebook posts promising participants would receive up to 36 gifts, in exchange for sending one gift. These gift exchanges, while they look like innocent fun, are really pyramid schemes – and are considered illegal. A gift exchange among online friends you haven’t met, well, that’s a little different and carries a heftier consequence. A "Secret Santa" around the office, or with friends and family can be fun.
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