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If you plan to purchase a gift card this holiday season, beware: Scammers are now using them to swipe your money. A study by the Better Business Bureau (BBB) found that gift card scams nearly ...
Here’s how the gift card scam works: Scammers tamper with gift cards in stores using handheld scanners to capture card information, then periodically check the balance by calling the retailer ...
Everything you need to know about gift card scams
What to know about the gift card scam:Police warn holiday shoppers about card draining. Holiday drinks: Try one of these 12 Christmas, holiday craft beers from Louisville breweries.
Another way gift card fraud occurs is when a retailer's online systems which store gift card data undergo brute force attacks from automated bots. Tax refund fraud is an increasingly popular method of using identify theft to acquire prepaid cards ready for immediate cash out. [4] [44] Popular coupons may be counterfeited and sold also. [45]
According to the FTC, consumers reported 48,800 cases of gift card fraud or reload card fraud totaling more than $228 million in losses last year. That's more cases than the following other types ...
The preferred method of payment in a technical support scam is via gift cards. [41] Gift cards are favoured by scammers because they are readily available to buy and have less consumer protections in place that could allow the victim to reclaim their money back. Additionally, the usage of gift cards as payment allows the scammers to extract ...
The Oregon Division of Financial Regulation offers these tips to keep scammers from stealing your money via gift cards.