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 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 BREAKING: CBN bans Nigerians from buying, selling bitcoin, other cryptos Central Bank of Nigeria has ordered banks and other financial institutions to close… Continue reading VAT Revenue Grew By 29.3% To ₦1.53 Trillion In 2020 – NBS The Nigerian government generated a total sum of 1.53 trillion naira revenue… Continue reading CBN issues modalities for payout of diaspora remittances in dollars The Central Bank of Nigeria (CBN) has issued a circular setting out… Continue reading CBN issues framework for Regulatory Sandbox Operations in Nigeria Ths Central Bank of Nigeria has taken proactive steps towards ensuring more… Continue reading Elon Musk Now World’s Richest Person With Over $185 Billion Net Worth Elon Musk with a new net worth of more than $185 billion… Continue reading Update On Globasure’s Revoked PTSP Licensees By CBN The Central Bank of Nigeria (CBN) has revoked the operating licenses of… Continue reading Prev. Post All Posts Next Post Total: 0 0 0 0 0 0 No Comments Recent Posts CBN Bans Fintech Companies From Providing BVN Validation Services For Customers April 9, 2021 Nigeria’s Ngozi Okonjo-Iweala appointed WTO director-general February 17, 2021 BREAKING: CBN bans Nigerians from buying, selling bitcoin, other cryptos February 5, 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 evolution fast track banking flat Giftcard gift cards Giftoga globasure globasure mobile money 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.