A "Secret Santa" around the office, friends and family can be fun. A gift exchange among online friends you haven’t met – well, that’s a little different and carries a heftier consequence. These gift exchanges, while they look like innocent fun, are really pyramid schemes – and are considered illegal.
The “Secret Sister” gift exchange campaign quickly became popular in 2015 through Facebook posts promising participants would receive up to 36 gifts, in exchange for sending one gift. Each holiday season the scheme pops back up. A newer version of this scam revolves around exchanging bottles of wine. You might see references to receiving "happy mail" or doing the exchange "for the good of the sisterhood."
The scheme starts with a convincing invitation, either by email or social media to sign up for what seems like a great, fun program. All you must do is provide your name and address and personal information of a few additional friends and tack this information on to a list that’s already started of people you’ve never met on the internet. 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.
The cycle continues and you’re left with buying and shipping gifts for unknown individuals, in hopes that the favor is reciprocated by receiving the promised number of gifts in return. Unfortunately, it doesn’t happen. Just like any other pyramid scheme, it relies on the recruitment of individuals to keep the scam afloat. Once people stop participating in the gift exchange, the gift supply stops as well, and leaves hundreds of disappointed people without their promised gifts.
This "gift exchange" is the latest version of a hoax that's been around for years. It's the same premise as a pyramid scheme and the pre-internet chain letters. The idea is that you send money (or a gift) to the person at the top of the list, cross them off, add your name to the bottom and send the list to more friends. Eventually, you hope, your name will be at the top, and you will receive all the money/gifts. However, the scheme relies on constantly recruiting new participants, making it mathematically impossible to sustain.
This may seem like a harmless hoax, but just like any other chain letter that asks for money or items of value, they’re against the law. The U.S. Postal Service considers them illegal gambling and could subject you to penalties such as jail time, fines or a lawsuit for mail fraud. That applies whether you get the request via postal mail, email or social media. And another thing, some social media sites specifically prohibit users from engaging in such schemes. That means it could cause problems with your account and have your page removed.
Protect yourself from social media scams:
Take the following steps to protect yourself and others from scam links shared through Facebook, Twitter and other social media:
• Don't take the bait. If it sounds too good or outlandish to be true, it's probably a scam. Stay away from promotions of anything "exclusive," "shocking" or "sensational."
• Be careful of shortened links. Scammers use link-shortening services to disguise malicious links. Don't fall for it. If you don't recognize the link destination, don't click.
• Never give your personal information to strangers. This will open you up to identity theft and other scams.
• Be wary of false claims. Some pyramid schemes try to win your confidence by claiming they’re legal and endorsed by the government. These imposter schemes are false as the government will never endorse illegal activity. No matter what they claim, pyramid schemes will not make you rich. You will receive little to no money back on your “investment” or gift exchange.
• Report suspicious links to the site. Whether on Facebook, Instagram or Twitter, report any suspicious posts or activity to the site by going to their help link. Your action might save someone else from losing out.
The holidays bring out a lot of cheer and goodwill, but they also bring out scams and schemes that tend to separate you from your hard-earned money. Take the time to check out anything that sounds too good to be true.
For more trustworthy tips, go to bbb.org and report scams at bbb.org/scamtracker.
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BBB CONSUMER TIPS: Social media gift exchange is a pyramid scheme - Charleston Post Courier
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