BBB Scam Alert: Watch out for fake coupons on social media

Oct 31, 2024 · Do a search for coupon scams. When in doubt, search the coupon offer along with the word “scam.” This will often bring up similar offers that are fake and can help you …

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Dec 16, 2024 · The digital coupon market is expanding rapidly, with its value expected to reach $8.96 billion in 2024.Accounting for one-third of all redemptions and achieving an average …

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FAQs about BBB Scam Alert: Watch out for fake coupons on social media Coupon?

What is coupon fraud?

Coupon fraud is a white-collar crime involving using coupons that violate the merchant's terms and conditions. ...

What are the penalties for coupon fraud?

Coupon fraud is a punishable offense and, while penalties vary case by case, the Coupon Information Corporation says that the harshest convictions for this type of fraud include a 17-year prison sentence and a financial penalty of $5 million. ...

How do retailers commit coupon fraud?

Retailers themselves can commit coupon fraud by seeking reimbursement from manufacturers for coupons that were not redeemed by customers or coupons for products the retailers haven’t sold. To make things worse for the coupon industry, several scams revolve around coupons. ...

Is a fake coupon a scam?

Legal experts have reviewed and vetted authentic coupons from legitimate, large companies. By contrast, a fake coupon might not even have fine print. The fraudster doesn't care about legal safeguards because the whole scam is illegal. So, the complete absence of legally protected language or any qualifying conditions could indicate fraud. ...

Can a coupon be a scam?

Scammers are infinitely creative, and they can run any number of fraud attempts, says David Speights, chief data scientist at Appriss Retail. Purchase-related scams can include anything as simple as copying a coupon by taking a photo of it on a smartphone and then scanning that coupon any number of times to get the discount more than once. ...

Do you pay for coupon fraud?

Coupon fraud is almost always a violation of federal, state or local laws and those who participate in it face the possibility of criminal punishment. Coupon fraud and abuse end up affecting all shoppers due to the ways retailers raise prices to mitigate their losses that stem from fraud. Ultimately, therefore, shoppers pay for coupon fraud. ...