Corrections & Clarifications: USA TODAY was given an incorrect figure for a story on gift scams and porch thefts. The correct amount is $76 billion in packages may be at risk of theft this holiday season. 

Consumers are expected to spend billions this holiday season on gifts, including online.

But with that comes scammers who are looking for their piece of the pie, tricking consumers into fraudulent purchases or gaining access to their funds.

Fraudsters are hoping consumers are busy during the holiday season, which may lead them to put their guard down, Margarita Alvarez, senior vice president of consumer risk programs at Wells Fargo, told USA TODAY.

"You also have scammers out there working to be able to capitalize on the higher volume of transactions that are occurring and that leads our customers to be more susceptible to these scams," Alvarez said.

Consumers lose billions to scammers each year

A recent report from the Global Anti-Scam Alliance said scammers had bilked $1.03 trillion from victims worldwide – a number the alliance said is probably actually larger since many scam victims are too embarrassed to report the crime.

A February report from the Federal Trade Commission said U.S. consumers had reported losing more than $10 billion to fraud in 2023.

A new Better Business Bureau scam study update warns holiday shoppers to be on alert, especially for fake advertisements that offer deep discounts and hard-to-find popular items. The BBB has had a 125% rise in scam reports, including scams via social media offering popular items like beauty products and viral tumbler mugs.

"Over 80% of reports to BBB indicated that they lost money, making online purchase scams one of the most common scams the public encounters," the BBB said in a press release.

Then there's theft of goods at delivery. A recent CNET report found more than $76 billion worth of packages could be vulnerable to porch theft this holiday season.

Nearly 1 in 6 U.S. adults said they'd already fallen victim to porch pirates in the past year. More than 7 in 10 consumers, or 71%, said they plan to use package tracking technology and home security cameras to protect their packages. Ten percent said they planned on getting the packages delivered to a different address when they weren't home.

Here are holiday scams to watch for – and tips to protect yourself

Here are some common holiday-themed scams and tips to avoid them. These come from a variety of sources, including Wells Fargo, Chase Bank, BMO, Feedzai, a company that helps financial institutions manage their fraud and BioCatch, a company that works with banks to protect their customers from fraud and scams:

◾ The “it” toy scam: Scammers target emotions and frazzled parents trying to get the hottest toy with fake links. Make sure you are interacting with a reputable retailer and not clicking on unsolicited emails, said Alvarez with Wells Fargo.

◾ Fake package notifications: Be careful of clicking on an unsolicited text or email pretending to be from a legitimate company to "track" your package or help with a "lost" package.

◾ Fake charities: Scammers know people are generous at the end of the year with charitable giving. Research the charity to ensure you are donating to a legitimate cause, according to Wells Fargo.

◾ Holiday/seasonal job scams: There's a rise in part-time work during the holidays to make some extra cash. But scammers also make up fake jobs to get your money and personal information, according to Wells Fargo.  

◾ Beware of gift card scams: Be careful of buying gift cards from third-party sites, said Chase Bank. Scammers will pre-save card details or sell expired cards. Don't answer unsolicited emails or text messages offering you a gift card; it could be a way to track your online activity.

◾ Watch for unsolicited “friendly” messages on social apps: Scammers first try to hook you by starting a friendly conversation and then asking for money once they earn your trust, said Chase Bank. Be careful of accepting requests from contacts you don't know and never send money.

◾ Deals that are too good to be true: Scammers will lure shoppers with deeply discounted prices or offers that are simply unbelievable, according to Feedzai. If a deal seems too good to be true, it probably is. Do your research and compare prices from different retailers before making a purchase.

◾ Double-check the website: Scammers often create fake websites that look just like legitimate online stores, according to Feedzai. Triple-check the URL web address for a slight variation in the spelling of a popular website. Look for a padlock icon on the address bar and check for "https" to indicate a secure connection.

◾ Use a secure payment method: Whenever possible, use a credit card for online purchases, said Feedzai. Credit cards offer more protection against fraud than debit cards or peer-to-peer payment apps.

◾ Be skeptical of product reviews and testimonials: Artificial intelligence can be used to create fake reviews and testimonials. Do your own research and look for reviews from trusted sources, said Feedzai. 

Fraud watch:Scam losses worldwide this year are $1 trillion. How to protect yourself.

◾ Payment app scams: Scams involving payment apps run all year long, according to BioCatch, but the volume is expected to increase during the holiday season. Most of these scams start with a call from someone pretending to be your bank or credit card company, saying there has been fraud detected on your account. They'll try to get you to transfer the money to an account to "protect" it, but it's actually an account for the scammer.

◾ Beware of account takeovers: Monitor your accounts closely for any signs of unusual activity like unexpected orders, new shipping addresses, or account updates you didn't initiate, said BioCatch. Account takeover fraud typically involves unauthorized access to accounts to make purchases or transfer funds. 

◾ Stay away from public Wi-Fi when shopping: Fraudsters can exploit unsecured networks to access your sensitive data, according to BMO.

(This story has been updated with a corrected figure.)

Betty Lin-Fisher is a consumer reporter for USA TODAY. Reach her at [email protected] or follow her on X, Facebook, or Instagram @blinfisher. Sign up for our free The Daily Money newsletter, which will include consumer news on Fridays, here.