Through Consumer Sentinel we hear from people across the country about frauds they encounter in the marketplace. One thing we learn from these reports is how scammers want to be paid. People are telling us that they’re increasingly being told to pay with gift cards – specifically, by giving someone the PIN number off the back of a gift card. Often people are specifically asked for certain brands, like iTunes and Google Play cards.
We found that from January through September of this year, gift cards and reload cards (like MoneyPak) were reported as a payment method in 26% of the fraud reports in which people told us how they paid, up from just 7% in 2015 – a 270% increase. Con artists favor these cards because they can get quick cash, the transaction is largely irreversible, and they can remain anonymous.
It’s not just tech support scams. When people report paying a fraudster with a gift or reload card, about four times out of five the fraud they report is an imposter scam – in fact, gift cards and reload cards are now the number one reported method of payment for imposter scams. These scammers pose as well-known businesses, family members, friends, or government agencies. They deploy various tactics to compel people to pay.
You can read the details here, and what to do to prevent this from happening to you.
We found that from January through September of this year, gift cards and reload cards (like MoneyPak) were reported as a payment method in 26% of the fraud reports in which people told us how they paid, up from just 7% in 2015 – a 270% increase. Con artists favor these cards because they can get quick cash, the transaction is largely irreversible, and they can remain anonymous.
You can read the details here, and what to do to prevent this from happening to you.
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