The Latest Trend in Gift Card Scams
Gift cards are one of the most popular gifts to give and receive around the holidays. According to the National Retail Federation, an estimated $25 billion was spent on gift cards in 2010.
- Most people would never think the gift card they received in their stocking might not be valid. Thieves are always coming up with new scams and the latest target gift cards.
- Technology has made it easy for thieves to tamper with preloaded gift cards. They can purchase handheld scanners and capture information behind the magnetic or scratch-off strip.
- When shoppers later purchase the gift cards, they are drained of value. One solution to avoid buying tampered gift cards is simple – ask a cashier to scan the card before you purchase to make sure it contains the full value. Check the card’s magnetic strip for anything unusual.
- For added protection, buy gift cards kept behind the store’s counter and always save your receipt.
Remember, TFCU offers gift cards with all the security you’ve come to know and trust.