Coupon Frauds

Online shopping is in a booming spree as more retailers take their business to online stores what they call as e-tailors (electronic retailers) instead of traditional brick and mortar stores. As per a study conducted by the National Retail Federation there are approximately 52 million people search the net hunting the best deals. One can find online coupons everywhere like emails, newsletters and websites. Unfortunately, counterfeit and fraudulent coupons appear very often. As a result many stores had stopped accepting internet-based coupons altogether.

A recent study conducted by The Grocery Manufacturer's Association (GMA) says that coupon fraud costs manufacturers and retailers over 500 million of dollars each year. But the real victim is the legitimate consumer as these losses are passed on to consumers in the form of higher prices and lowered promotional offers.

Every consumer needs to know their coupon rights in order to enjoy tremendous savings on the coupon offers while preventing the coupon frauds as it ultimately affects them only. Trading and selling coupons is illegal as per Federal Trade Commission regulations. The only usage of coupon is according to them cutting it from the newspapers or any other source and uses it towards purchase of the specified products.

Coupon auctions are declared as illegal by the federal authorities. No body can sell the coupon itself in bulk for some consideration. Actions sites prohibit many kinds of coupon auctions, but sometimes unscrupulous sellers slip through. Many of these illegal sellers claim to be selling a coupon clipping service and not the actual coupons. But what they not say is that coupons the coupon you buy is not valid once you buy them as they are nontransferable.

All coupons should be redeemed within its expiry period. As expired coupons has no value, typing to use them or sending them to defense personal on a false notion that they can use it for another six month will end in paying more cost by consumer themselves.

Counterfeiting coupon is one of the major hurdles for shoppers and manufacturers. Counterfeiting coupons is illegal and carries same penalty and jail term as counterfeiting money. Altering coupons in any way by changing the bar code, coupon offer, or even the expiration date is coupon considered to be a fraud and punishable under law. Some federal and voluntary organizations specialize in prosecuting the people who commit coupon frauds. Groups like these are helping to make everyone safer, because many coupon fraud schemes in the past have had links with organized crime, terrorist organizations, drug cartels, and money laundering operations

Daniel Smith writes about http://www.simplybestcoupons.co.uk