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November 21st, 2022
Gift card scams are just as prevalent as catfish scams and both can leave the victim in a vulnerable position where they lose a lot of their money. Since 2018, gift card scams have increased in numbers every year. Losses of $5,000 or more have been reported which is an increase of 6% since 2018. It can be a troubling thing to get caught up in this scam, but hopefully this article will give you some helpful advice on how to handle it if you should happen to find yourself a victim.
Why Do Hackers Want You To Buy Gift Cards?
Well, if you think they’re collecting gift cards to send to their friends as presents, you’re sadly mistaken. The reason why they want you to buy gift cards is because it’s the easiest way for them to steal money from you.
If they used a phone, they would be forced to tell the victim their account numbers and sort codes. If they tried to have their money wired, they would need a legitimate financial account to have the money sent.
Gift cards don’t require a secure financial account. All they need is to redeem the code after making an account. As a result of this, it makes it very difficult to trace the scam and connect it to the scammer. Getting the victim to send the gift card is also very easy as all the scammer needs to do is have the victim send them the code over the phone.
Did I mention that gift card transactions aren’t reversible? Once transactions are made, the money can’t be returned. By the time a victim realizes they’ve been swindled, it’s too late.
Why Do Scammers Want Apple Gift Cards?
Apple products are the most popular tech products in the world. Apple has surpassed Android to account for more than half of smartphones used in the US.
Scammers are using apple gift cards to buy services and products that they otherwise couldn’t afford. The scam works just like the rest of the cards scams. People buy the gift cards and are approached by scammers who get them to reveal the code.
In one instance, a guy was encouraged to buy $500 Apple gift cards because he needed to get money for his grandson who needed $4000 for bail. Only after the transaction was completed did he realize that the grandson who needed the money for bail was actually a scammer.
Can People Hack You Through Gift Cards?
Hackers don’t just exist online. They can infiltrate your gift card before you even know it. Sadly, all that needs to be done is for you to purchase the gift card.
Every card has a PIN number or code on it. Hackers scratch the silver off, copy the pin or code on it and put back another silver sticker on it. The hackers will then wait for the card to be activated and when it is, they’ll drain the money on the card.
The hackers have technology that can track when the card is activated. The tech will alert them of the card’s activation for them to quickly and swiftly swoop in and use the funds.
How To Get Money Back From Gift Card Scammer
Unfortunately, there typically is no way to get money back from the scammer. However, if you find yourself in this predicament, you should contact the issuer of the gift card and notify them that you’ve been scammed.
They may be able to refund your money and reimburse the funds back on the gift card. Make sure to keep the gift card and the card’s receipt.
Can Gift Cards Be Traced
What makes this particular scam so great for scam artists is that they can’t be traced. Typically, gift cards aren’t attached to an individual or an account, so there’s nothing linking them to personal information.
Luckily, merchandisers are starting to track the purchase patterns and training their employees to question multiple purchases and purchases that would leave the gift card’s funds at $0 on a single transaction.
To learn more about the different type of gift card scams, click here.
10 Things To Do If You Get Scammed Using Gift Cards
- Immediately stop all contact with the person who scammed you. This includes blocking their phone number, email address, and social media profiles.
- Report the scam to the anti-fraud center of the gift card issuer. This will help them to cancel the card and prevent further fraudulent charges.
- Contact your local police department and file a report. Be sure to include all of the relevant details, such as the name and contact information of the person who scammed you.
- Contact your bank or credit card company and let them know that you have been a victim of fraud. They may be able to refund any unauthorized charges made to your account.
- If you have given away personal information, such as your Social Security number or bank account number, contact the appropriate agencies to freeze your accounts and protect yourself from identity theft.
- Place a fraud alert on your credit reports by contacting one of the nationwide credit bureaus. This will make it more difficult for someone to open new accounts in your name.
- Monitor your credit reports for signs of identity theft, such as new accounts or inquiries from creditors that you didn’t authorize.
- Keep a meticulous record of all correspondence and documentation related to the scam, including emails, text messages, and any other communications. This will be helpful if you need to take legal action against the person who scammed you.
- Reach out to family and friends for support during this difficult time. Talking about what happened can help you to process the experience and start to move on.
- You may also want to file a complaint with the Federal Trade Commission (FTC). The FTC accepts online complaints related to a wide variety of issues, including scams.
