Random Prevalence of Gift Card Fraud Among Retailers and Consumers Online
The digital age has changed how we handle money, but it's also brought a new problem – gift card fraud . More people shop online and use digital payments, giving scammers new ways to steal. They target both stores and customers who don't know any better. Card draining occurs when a thief tampers with a gift card and "drains" the money before the funds are used by the consumer In the US, gift card fraud is a big worry. Thieves use many tricks to take money and personal details. They use stolen cards and clever scams, making everyone at risk of losing money or having their identity stolen. Key Takeaways Gift card fraud is a growing problem in the US, affecting both retailers and consumers. Criminals use various tactics, such as stolen credit cards and phishing scams, to exploit the popularity of gift cards. Businesses and individuals must be vigilant in protecting themselves from this type of fraud. Proactive measures, such as implementing security protoco...