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 Roaming SIM vs. Local SIM: Navigating Connectivity Abroad Traveling abroad has become an integral part of our lives, whether for… Continue reading Artificial Intelligence And Machine Learning In Digital Banking The future of digital banking is exciting! As more people use their… Continue reading How Roaming SIM Cards Revolutionize Global Connectivity In today's interconnected world, staying connected while traveling abroad is essential. Roaming… Continue reading The Rise of Mobile Payment Platforms: Shaping a Cashless Future Mobile payment platforms have witnessed a meteoric rise in recent years, revolutionizing… Continue reading Top 10 Nigerian Tech Deals That Made The News In 2022 Even though there was a global economic heartbreak that went on last… Continue reading 10 Changes Made To Nigeria’s Currency Since Independence The Central Bank of Nigeria (CBN) last Wednesday announced that it would… Continue reading Top 10 Acquisitions in Tech History The tech world is still grappling with this week’s announcement of Twitter’s… Continue reading 5 Laws regulating FinTechs in Nigeria The industry is growing at such a rapid pace that the laws… Continue reading Prev. Post All Posts Next Post Total: 0 0 0 0 0 0 No Comments Recent Posts Roaming SIM vs. Local SIM: Navigating Connectivity Abroad August 18, 2023 Artificial Intelligence And Machine Learning In Digital Banking August 11, 2023 How Roaming SIM Cards Revolutionize Global Connectivity June 22, 2023 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 eNaira fast track banking Fintech flat Giftcard gift cards Giftoga globasure globasure smart roaming GlosoftPOS Godwin Emefiele 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.