Ads
related to: gift card fraud protectionidentityprotectionreview.com has been visited by 10K+ users in the past month
groupon.com has been visited by 100K+ users in the past month
Search results
Results From The WOW.Com Content Network
In the first nine months of 2021, more gift card fraud was reported than in all of 2020. One in three Americans has fallen victim to gift card fraud, according to a survey by AARP.
Once a scammer hijacks your gift card, they can drain its value effortlessly — but that’s just the beginning. Gift card fraud can be a gateway to even more complex cyber fraud.
A few examples of credit card fraud include account takeover fraud, new account fraud, cloned cards, and cards-not-present schemes. This unauthorized access occurs through phishing, skimming, and information sharing by a user, oftentimes unknowingly.
Carding is a term of the trafficking and unauthorized use of credit cards. [1] The stolen credit cards or credit card numbers are then used to buy prepaid gift cards to cover up the tracks. [2] Activities also encompass exploitation of personal data, [3] and money laundering techniques. [4]
The most common form of gift card fraud is committed through the act of stealing card information for activated cards with an existing balance by attacking a retailer's systems which store gift card data.
Falling for these types of gift card scams can lead to financial losses and personal information exposure. Below are ways to help avoid falling victim to these scams. Red flags for gift...
Ad
related to: gift card fraud protection