Secret Sister Gift Scam
While the festive season brings lots of joy and cheer, it also brings out the grinches who are looking to steal not only your holiday bliss but also your identity and peace of mind. This is what the secret sister scam is and what to do if you get that special offer from a friend.
The “Secret Sister” gift exchange seems like a fun way to spread cheer within the social media-verse. Still, it’s an illegal pyramid scheme, according to the U.S. Postal Inspection Service (USPIS).
Akin to old-timey chain letters, the Secret Sister gift exchange asks participants to buy a gift of at least $10 value and send it to your “secret sis.” In exchange, they are promised 6-36 gifts in return. Participants must provide their personal information and information of members from their social network. Then, those people must provide their friends’ information, and so on …
Once the chain stops, the original participant is out $10 and will probably never get one gift, let alone 36!
Just like any other pyramid scheme, according to the Better Business Bureau (BBB), Secret Sister counts 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.”
Gift exchanges, the USPIS says, are gambling, and participants can be guilty of mail fraud and face fines and jail time.
Protect yourself
Delete it
Even though it seems lovely to receive many gifts from all over the globe, it could cost you your identity and freedom. Disregard any social media post, email, or letter asking to be a Secret Sister.
Report it
Let the social media platform you’re using know about the circulating scheme by clicking on “report post.”
Protect it
Restoring your identity is no joke! Keep your private information to yourself.
Question it
Some of these fraudsters claim the U.S. government endorses these schemes. Not true! Pyramid schemes are illegal and would never be advertised or promoted by any government agency.
Don’t get on the naughty list this holiday season. Steer clear of the Secret Sister gift scam or any other social media gift exchange, keep your money and your identity safe, and jingle all the way to a happy holiday! Remember, our branches have holiday hours and may be closed. Our online banking is always open. Elevate Credit Union
