Posted 12/22/2023, 10:18:47 PM
Gift Card Scams Skyrocket, Causing $147 Million in Losses This Year
- Better Business Bureau reports 50% increase in gift card scams this year, totaling $147 million in losses
- Scammers tampering with gift cards in stores, cutting off security codes then resealing envelopes
- Some scams use AI to clone victim's voice and request gift cards
- Gift cards lack protections of credit/debit cards; money often gone once spent
- People can report gift card scams to the Federal Trade Commission