US: BBB recommends consumers to stay away of fraudulent online coupons

Friday 1 August 2014 00:40 CET | News

Better Business Bureau (BBB) warns consumers to watch out when dealing with online coupons because there are also fake ones which could cause them financial losses.

According to estimates, there is a registered annual loss due to coupon fraud at USD 6 million.

According to the Coupon Information Corporation (CIC), the internet is the main reason for the growth in the use of fake coupons because they can be modified and printed at home. As such, it is more difficult for manufacturers and retailers to institute security measures to combat counterfeits.

BBB offers guidance on redeeming online coupons, such as verifying the coupon issuer, verifying the legitimacy of the coupon, taking caution regarding instant offers, carefully reading the terms of the redemption for a coupon or keeping away from phony coupons via e-mail.

CIC also advises consumers to never pay for a coupon from companies or individuals who “sell the service of clipping coupons.” Reselling coupons is illegal. Such websites deny they are selling coupons, but rather selling a service, and covering costs of clipping, managing and mailing coupons.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: US, BBB, consumers, fraudluent coupons, internet, redeem, online coupons, fake, counterfeit, fraud
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime