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Gift Card Scams

All articles tagged with #gift card scams

businesstechnology2 years ago•3 min saved

"Walmart's Battle Against Gift Card Scams"

Walmart has developed a proprietary technology called Redemption to combat the rising frequency of gift card scams, particularly victim-assisted fraud. The technology helps spot red flags for gift card fraud during transactions, freezing the funds to prevent thieves from obtaining the money. Since the program's launch, the government has returned $4 million to thousands of customers, and calls to Walmart’s law enforcement response team have decreased by more than half. Walmart has also increased staff training and joined the Elder Gift Card Fraud Task Force to further combat these crimes.

via Fox Business|

#businesstechnology #fraud-prevention #gift-card-scams

consumer-protection2 years ago•2 min saved

Beware of Rising Gift Card Scams: Tips to Stay Safe This Holiday Season

The FBI is warning that gift card scams are on the rise, with scammers using a "gift card draining" trick to steal money before it can be used. Reports of gift card scams have increased by 50% this year, totaling over $210 million in losses. To avoid falling victim, consumers are advised to check for tampering on gift cards, avoid buying cards with damaged packaging, and register their gift cards if possible. If a gift card has been tampered with, there is little that can be done to recover the lost funds. Buying gift cards from behind the counter or gifting cash are alternative ways to protect oneself.

via WJXT News4JAX |

#better-business-bureau #consumer-protection #fraud

scams2 years ago•6 min saved

Holiday Season Scam Alert: AI-powered gift card frauds on the rise

Gift card scams have become increasingly prevalent during the holiday season, with scammers using various tactics to defraud unsuspecting consumers. One method involves stealing gift cards, removing the card numbers, repackaging them, and returning them to the store for unsuspecting shoppers to purchase. Another tactic is the use of AI deep-fake voice software to trick people into loading funds onto gift cards and sending the money to scammers. The number of reported gift card scams has increased by 50% since the beginning of the year. Consumers are advised to be cautious and verify requests for gift card purchases, especially if they involve unusual or unexpected circumstances. The Better Business Bureau recommends contacting the gift card seller, the business or organization supposedly requesting the gift card payment, and the BBB if encountering a potential scam.

via New York Post |

#ai #better-business-bureau #fraud

crime2 years ago•8 min saved

Beware of Gift Card Scammers Draining Balances and Targeting Victims

Victims are falling prey to a gift card scam known as "card draining," where criminals steal batches of gift cards, note down the card number and PIN, and return them to store shelves. Unsuspecting shoppers load funds onto the cards, only to have the money stolen before the recipient can use it. Reports of gift card scams have increased by 50% this year, with retailers like Target being targeted. Police are warning shoppers to check for signs of tampering, such as scratches or missing parts, before purchasing gift cards.

via Daily Mail|

#card-draining #crime #fraud

consumer-protection2 years ago•4 min saved

Beware of Gift Card Scams: Tips to Protect Yourself

A Target customer on TikTok shared a gift card scam where scammers purchase gift cards, keep the packaging intact, and record the access information. They then place these "new" gift cards on store shelves, and unsuspecting customers buy them and add money to the cards. The scammers check the balances and spend the money before the intended recipients can use it. To avoid falling victim to this scam, the customer advises flipping the cards over and checking for stickers covering the back. If a sticker says "check balance," it means the card has already been used. The customer suggests getting gift cards from behind the cashier's station instead of display walls.

via The Daily Dot|

#consumer-protection #fraud-prevention #gift-card-scams

scams2 years ago•8 min saved

"Protect Yourself: Spotting and Avoiding Holiday Scams"

With the holiday season in full swing, scammers are taking advantage of people's stress and generosity. Here are five common holiday scams to watch out for: package delivery scams, charity scams, social media gift exchange scams, gift card scams, and fake online shopping sites scams. Scammers use various tactics such as fake delivery notifications, posing as charitable organizations, pyramid schemes on social media, stealing gift card information, and creating fake online stores to steal personal and financial information. To avoid falling victim to these scams, it is important to verify the source, do independent research, shop from trusted websites, use secure payment methods, and be cautious of red flags.

via Fox News|

#charity-scams #fake-online-shopping-sites-scam #gift-card-scams