Fake refund scams involve fraudsters pretending to issue refunds for defective, delayed, or unordered products. Victims believe they are receiving a refund, but instead, their money is stolen.
How This Can Happen to Us
1. Phony Refund Calls
◦ Scammers call, claiming a company is issuing refunds for a product.
◦ They ask for banking details, but instead of refunding, they withdraw money.
2. Fake Refund Emails
◦ Victims receive an email saying they were overcharged and can claim a refund.
◦ Clicking the link leads to a fake payment portal, stealing login credentials.
3. Overpayment Refund Scams
◦ A scammer pretends to mistakenly deposit extra money into your account.
◦ They ask you to return the excess, but the initial deposit was fake.
Example of a Fake Refund Scam
A woman in Chicago got an email from a "Walmart Refund Team" saying she was owed $150. When she entered her card details, scammers stole $500 from her account.
How to Protect Yourself from This Scam
• Verify refunds by checking your original payment method.
• Never share banking details or click on refund links in random emails.
• Legitimate refunds are processed automatically by companies—they don’t require phone confirmation.