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So maybe Christmas now means the very predictable gift card swap, but hey, who can’t use a gift card? But beware, there are a ton of scams. This includes physical, not just digital, gift cards.
Regardless of who gave you the card, you should always practice security measures. Below are two common ways that fraudsters operate.
Transform Gift Card to Cash Twice.
If someone gives you a $200 gift card to an electronics store and then it’s stolen, you technically have lost money, as this is the same as someone stealing a wad of cash from your pocket.
Nevertheless, you’ll feel the loss just as much. Crooks who steal gift cards have numerous ways of using them.
Infiltration of Online Gift Card Accounts
Joe Thief might also use a computer program called a botnet to get into an online gift card account.
Here’s How to Protect Yourself
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author.
Alex Kreger Founder & CEO at UXDA
22 August
Nick Green Director at Purple Patch Broking Ltd
Priya Kumari
20 August
Oleg Stefanet Chief Risk Officer at payabl.
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