In December, a con artist stole over $1 million in gold from an elderly couple in Lancaster. The con posed as a social security worker, “informing” the two that their social security numbers got leaked. The actor advised the couple to liquidize their retirement assets in return for gold. The gold was then picked up by anonymous individuals under the guise that the gold was payment for new social security numbers. The public has been left with innumerable questions surrounding the unsolved case.
This drastic incident serves as a major reminder that financial fraud reaches its peak during the holiday season each year. Because of the overall increase in shopping, travel, and donations to charity, fake transactions and refunds are difficult to spot simply because of the sheer volume of purchasing activity (American Banker). The staggering statistics surrounding these crimes perfectly sum up the financial situation.
In 2024 fraud jumped 28% around Thanksgiving and winter break (Merck Employees Federal Credit Union). In a 2024 Consumer Cyber Safety Survey, one in three people reported falling victim to online scams. In 2024, online scams and credit card fraud led to the loss of almost $1 billion (Federal Bureau of Investigation). Scammers oftentimes post deceiving holiday deals and packaging scams because the highly active digital world provides cons with many places to hide.
It is more important than ever to protect your finances during this time of year, especially because of recent events contributing to the creation of scams. Because of tariffs put in place during 2025, many scammers falsely claim that packages cannot be delivered until customers pay a tariff related tax, customs fees, or import surcharges. In addition, advancements in artificial intelligence have led to the drastic increasing intensity of the digital market. AI platforms can create websites, convincing text messages, and even artificial voice messages regarding online holiday shopping scams, providing scammers with a persuasive base for their cons.
As a consumer, you should always be cognizant about where you use your debit card, clicking on suspicious links, and whether deals are too good to be true, but during the holiday season, you also need to be extremely cautious of emotional manipulation. The holidays always bring an increased spirit of generosity and kindness throughout the world; unfortunately, scammers take advantage of this wholesomeness. Scammers try to take advantage of people through fake emotional appeals, manipulating the spirit of charity or offering up a deal that is literally too good to be true.
All in all, it is always imperative to closely guard your finances by making conscious decisions, deliberating purchasing items with extra charges, and overall discerning real sales from scams.
