Be Sure To Avoid These 3 Common Gift Card Scams November 11, 2020 News No Comments The National Retail Federation found that gift cards were one of the most requested gifts during the 2017 holiday season. Moreover, the gift card spends for the season was estimated to reach $27.6 billion. But how many of those cards were victims of fraudulent activity? Here’s how to protect yourself from some of the most common gift card scams. Read Also: Gift Card Hacks You Have to Try! 1. In-Store Hacking A hacker can easily steal money from the gift card rack. How? They quickly obtain the gift card number as well as the security code. If you’re wondering how they access the security code, the scammer is already one step ahead of you. They utilize replacement to cover the scratched off security code, making it appear as if the card has been untouched. With special software, the hacker can be notified once a gift card has been activated and can be used to make a purchase. 2. Spammers Posing As The IRS, Government Agency or Companies Either you, a family member, or a friend have more than likely received a phone call from scammers pretending to be from the IRS. The fake callers claim that you owe money surrounding incorrect tax refunds. According to the IRS, people have lost millions of dollars in addition to their personal information being compromised. Note that these scammers can often ask for payment via gift cards. It’s imperative to contact the company directly if the claim sounds suspicious. Note that the IRS does not initiate contact with people via social media, email, or text messages. I f you’ve been contacted and are concerned about the legitimacy, review this helpful tax scam article from the IRS. 3. Gift Card Balance Bots The software allows for scammers to target gift card balance websites using compromised data and bots. Gift card numbers as well as pins are tried in an attempt to access gift card accounts online. Once a gift card with funds has been verified, the scammer will then sell the gift card account information. How To Protect Yourself Always check the gift card packaging for any damage. Keep the receipt from when you purchase the gift card. If you think you’ve received a fraudulent phone call, immediately hang up the phone. Avoid in-store racks that easily expose the gift card’s numbers and PIN. Look for stores that hold gift cards from behind the counter. Paul Fakayejo gift cards Request a free consultation We provide end to end payment solutions. Contact Us More from our blog See all posts CBN Postpones Launch Of eNaira The Central Bank of Nigeria on Yesterday, announced the postponement of the… Continue reading What makes eNaira different from money in your bank account The Central Bank of Nigeria’s eNaira website has gone live ahead of… Continue reading Difference between open-loop and closed-loop payment cards What is open-loop? Open-loop payments are attracting attention worldwide as a convenient… Continue reading Nigeria to Launch Its Own Cryptocurrency ‘eNaira’ in Partnership With Bitt Nigeria barred banks and financial institutions from dealing in or facilitating transactions… Continue reading What is Fintech ? Types of Fintech Fintech, or financial technology, is the term used to describe any technology… Continue reading CBN removes N379/$1 exchange rate from website The Central Bank of Nigeria (CBN) has removed the exchange rate of… Continue reading CBN Bans Fintech Companies From Providing BVN Validation Services For Customers The Central Bank of Nigeria has reportedly banned fintech companies and other… Continue reading Nigeria’s Ngozi Okonjo-Iweala appointed WTO director-general Some days ago, History was made in Africa especially in Nigeria as… Continue reading Prev. Post All Posts Next Post Total: 0 0 0 0 0 0 No Comments Recent Posts CBN Postpones Launch Of eNaira October 1, 2021 What makes eNaira different from money in your bank account September 28, 2021 Difference between open-loop and closed-loop payment cards September 22, 2021 All Website TagsAccess bank agency banking algorithms anchor text art back-links bill paymet bitcoin branding cashless cashless policy cbn Central Bank of Nigeria Chris Ife content coronavirus corporate corporate messaging credibility dream-theme emphasis eNaira evolution fast track banking flat Giftcard gift cards Giftoga globasure globasure smart roaming GlosoftPOS GROAM gtbank ingenico nibss nigeria payalat roaming SIM seo strategy ServPoint stamp duty themeforest VAT VAT Increase wordpress Leave a Comment cancel Save my name, email, and website in this browser for the next time I comment. This site uses Akismet to reduce spam. Learn how your comment data is processed.