ABA Foundation, FBI release infographic on avoiding holiday scams

The American Bankers Association Foundation and the FBI today released a new infographic offering consumers tips to avoid online shopping scams this holiday season. The graphic provides advice for recognizing warning signs, lists good cyber habits, urges consumers to do business with companies they trust and explains why payment methods matter when it comes to settling disputes.

According to the FBI’s Internet Crime Complaint Center, Americans lost $337 million to non-payment and non-delivery scams in 2021. In these scams, buyers pay for products or services online, but never receive them. Conversely, sellers ship goods or provide services, but never receive payment.

“With today’s economic challenges, many people are looking for ways to save money this holiday shopping season,” said ABA Foundation VP Sam Kunjukunju. “If they’re not careful, they may run into a scam instead of a good deal. We’re urging consumers to use caution and remember that when a deal seems too good to be true, it probably is.” Bankers are encouraged to share the infographic with their clients.