(NYSE:MGI), a leading global money transfer and money services company is warning consumers to watch out for fraudsters who could steal their holiday money and holiday cheer.
Three types of scams typically increase during the holiday season. Scammers attempt to extract funds from unsuspecting individuals who are hoping to
extra money for holiday spending,
money to charities, and
for gifts online.
- Earning: Many people want to earn extra spending money for holiday shopping, and may be tempted by offers to “work at home” or become a “mystery shopper” for a product or retailer. The recipient may be asked to send a wire transfer or money order for a start-up kit, or the recipient receives a large check to cash – which turns out to be fraudulent – and is instructed to spend some of the money and wire the rest back. Once the consumer sends the money, there is no way to get it back.
- Giving: Legitimate charities increase their solicitations during the holidays to take advantage of feelings of goodwill, but many scammers use fake charities to try to steal money from well-meaning consumers. If a charity isn’t well known or sounds like a scam, consumers should check it out thoroughly before making a donation.
- Shopping: Products and deals advertised on the internet that seem “too good to be true” probably are. Scammers entice consumers into believing they’re getting a deal, and ask for advance payment through a money transfer or money order. Consumers won’t receive the merchandise, and they won’t get their money back.
“Never wire money to someone you don’t know,” says Kim Garner, senior vice president of Global Security at MoneyGram. “Fraudsters don’t take holidays so it’s important for consumers to be alert to signs of possible fraud and follow the three R’s rule.”
- Recognize: Savvy consumers should look for red flags when someone asks them to send money through a wire service or money order, because scammers often request these methods knowing that once the money is sent, it cannot be retrieved.
- React: When they identify a scam, consumers should immediately put an end to any transaction or conversation – hang up the phone, delete the email, or end the back-and-forth messaging.
- Report: Report the suspected scam to the local police, and file reports with the Federal Trade Commission, National Consumers League, and Internet Crime Complaint Center (if the suspected fraud was online).
Consumers can learn more about how to protect themselves against fraud at
. Customers should call
if they believe MoneyGram was used to wire money as a result of a scam. Since mid-2010, MoneyGram has prevented millions of dollars in suspected fraud activity, put those dollars back in the pockets of consumers, and kept the funds out of the hands of scammers.
About MoneyGram International
MoneyGram International, a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers bill payment services in the United States and Canada and money transfer services worldwide through a global network of more than 334,000 agent locations – including retailers, international post offices and financial institutions – in nearly 200 countries and territories. To learn more about money transfer or bill payment at an agent location or online, please visit
or connect with us on