Overview of the Scam

A gift card scam is a type of fraud where scammers trick victims into buying gift cards and sharing the card details, allowing the scammers to steal the funds. This scam has been on the rise, with many people falling prey to it.

Timeline (When it happened)

The gift card scam has been around for several years, but it has gained significant attention in recent times due to the increased use of gift cards for online purchases. The scam has been reported to have occurred in various parts of the world, with the majority of cases being reported in the United States.

Also Read: Gift Card Scam Alert: Protect Yourself from Phishing Attacks

Root Cause / How it Worked

The scam typically starts with a phone call or email from a scammer claiming to be from a reputable company or government agency. The scammer would then convince the victim to buy a gift card and share the card details, including the card number and PIN. The scammer would then use the card details to make purchases or sell the card details on the dark web.

Impact on Victims

The impact of the gift card scam on victims can be significant, with many people losing hundreds or even thousands of dollars. The scam can also lead to identity theft and other forms of fraud, making it essential for people to be aware of the scam and take steps to protect themselves.

Red Flags & How to Avoid

There are several red flags that can indicate a gift card scam. These include:

  • Unexpected phone calls or emails asking for gift card purchases
  • Requests for gift card details, including card numbers and PINs
  • Claims of urgency or threats of consequences if the gift card is not purchased

 

Tips for Protection

To protect yourself from gift card scams, follow these tips:

Also Read: Protect Yourself from App Store Fraud
  • Never buy gift cards at the request of someone you don't know
  • Never share gift card details, including card numbers and PINs
  • Be cautious of unexpected phone calls or emails asking for gift card purchases
  • Verify the authenticity of the request by contacting the company or agency directly

 

Passwords are like underwear. Don’t let people see it, change it very often, and don’t share it with strangers.

Chris Pirillo