Stay One Step Ahead of Gift Card Scammers with These Tips
Over the years our team at Scamhelp has encountered many different scams, and fraud tactics used by scammers. The gift card scam is an ever evolving form of fraud. Our aim in this article is to provide an overview of methods used by scammers, as well as prevention tips, and how our services can be contracted in case you or your company are having issues with gift card fraud. This is also relevant for e-commerce stores, retail outlets.
Gift card scams are a common tactic used by scammers to swindle unsuspecting individuals of their money. Such scams usually involve requesting victims to pay for something using a gift card, such as iTunes or Google Play, and then provide the numbers on the back of the card to the scammer. It is essential to know that no legitimate business or government agency will ever insist on payment with a gift card. Therefore, anyone demanding payment with a gift card is undoubtedly a scammer.
Gift cards are a popular tool for scammers as they are easy to find and purchase. Additionally, gift cards offer fewer protections for buyers than some other payment options, making them more vulnerable to fraud. Once the scammer obtains the gift card number and PIN, they can quickly drain the funds on the card, leaving the victim with nothing.
“Protect Yourself from Gift Card Fraud: What You Need to Know”
Scammers use various tactics to convince their victims to pay with gift cards. They may claim urgency and pressure the victim to act quickly to avoid something terrible happening. They may also direct victims to purchase specific gift cards from stores such as Walmart, Target, CVS, or Walgreens,or any other retail outlet, or have them buy cards from several stores to avoid raising suspicion. During the purchase process, the scammer may stay on the phone with the victim to ensure that they load the money onto the card. However, once the victim provides the gift card number and PIN, the scammer disappears with the funds, leaving the victim in distress.
To avoid falling victim to gift card scams, individuals must be able to spot the tactics employed by scammers. For instance, scammers may claim to be from government agencies such as the Social security or tax authorities, tech support from Apple or Microsoft, or even someone on a dating website. If the caller or message seems too good to be true, then it probably is.
If you have fallen prey to a gift card scam, it is crucial to contact the company that issued the gift card immediately. Provide them with the gift card number and any receipts you have to enable them to take appropriate action. Some gift card companies have dedicated channels to report such incidents and even provide guidance on how to recover lost funds.
In conclusion, gift cards are for gifts and not for payments. Individuals must exercise caution and stay vigilant to avoid falling victim to gift card scams. If you suspect a scam, report it to the relevant authorities immediately.
Stay ahead of the game: Protecting yourself from the latest gift card scams of 2023
Gift card scams are becoming increasingly prevalent, and it is important for consumers to know how to protect themselves from such scams. There are four types of gift card scams, including the IRS and iTunes scam, the balance check 3-way call scam, the bot that steals gift card balances scam, and the stolen card number scam.
In the IRS and iTunes scam, scammers impersonate the US Internal Revenue Service and threaten victims with arrest for tax evasion. The victim is then told to pay a fine with gift cards, which the scammer will drain of their value. There are also various forms of this scam in Europe. To avoid this scam, hang up on fake callers and only buy from reputable resellers.
In the balance check 3-way call scam, a buyer asks a gift card seller to confirm the balance of the card by calling the merchant in a 3-way call. The buyer records the touch-tone numbers entered by the seller, intercepting the gift card number, and uses it without paying for it. To avoid this scam, sell gift cards only to reputable resellers that offer a money-back guarantee.
In the bot that steals gift card balances, hackers use a bot to run through a store’s online gift card balance check system to find a valid gift card number with an activated balance. Once the bot finds a match, the hackers use the gift card or sell it on the dark web. To avoid this scam, use gift cards soon after receiving them.
In the stolen card number scam, a thief removes a gift card from a display, records the number, and puts it back in the display. The thief then waits for a customer to buy the compromised gift card and uses the gift card number or makes a duplicate plastic gift card that can be used in stores. To avoid this scam, inspect gift card packaging and only buy from reputable retailers.
Anti-Fraud Experts: The Key to Protecting Your Business and Customers
Overall, consumers should be vigilant when using gift cards and should only purchase them from reputable sources. They should also save the purchase and activation receipt until the gift card is redeemed and be cautious when revealing gift card numbers over the phone. Our staff of anti-fraud experts at Scamhelp are trained how to identify, and assist in recovering lost funds, and assets from scams, and fraud. We can assess your case and provide a tailored solution to the specific scam you encountered.
