People have taken advantage of the many financial technologies produced to make life easier for everyone to swindle others of their fortune. This can be painful and disastrous for the victim; many people have gone bankrupt as a result of this, while the criminal gets away with it and is almost always untraceable.

Because Gift Cards are typically cards preloaded with a particular amount of money that can be used to purchase things at different places, these dubious actions are highly widespread in the use of Gift Cards. Gift Cards are particularly appealing to cyber attackers since they have a credit value and can be traded for cash.

There are, however, legitimate ways to avoid these scams and keep safe from online scammers attempting to steal your credit card information.

New tools to fight gift card scams | FTC Consumer Information

Ways to avoid gift card scams.

Despite the increasing trend in gift card fraud methods, here are some pointers to assist you to spot a scammer and avoid being a victim.

1. Its Best You Use as Soon as Possible

You might be wondering why I mentioned this, but using your gift cards as soon as possible will prevent bots from searching for and discovering card information. Scammers frequently employ bots to look for card information on Gift Card systems; therefore, using your card immediately will prevent the bots from obtaining your card information.

Read Also: How to Save Money with Gift Cards

2. Disregard Unknown Callers Asking Card Information

Do not give in to or listen to any caller claiming to be from the Internal Revenue Service and requesting your Gift Card information in order to complete payment of your taxes and other legal fees. Gift Cards are not accepted by any government body for tax or utility bills. When you receive a call like this, simply hang up and file a report.

3. Watch out for offers that are too good to be true and don’t be greedy:

Greed can lead you to accept offers that you’ll normally see to be scams. Some scammers promise non-feasible rates to lure unsuspecting and greedy people. Hence, you should be aware of industry-standard rates, like rates on NOSH so you can know when someone is stringing you along in their scheme. When their rates are becoming too good to be true, it’s time to take some steps backwards. So make sure you don’t fall for a gift card deal that’s too good to be true.

4. Pay Attention To The Cashier:

Some cashiers are not only contentious in their duties, but they are also complicit in the scams by storing the original Gift Cards given to them by consumers and replacing them with blank cards. While activating your Gift Card over the counter, keep a watchful eye on the cashiers.

5. Avoid Online Auctions:

Some Gift Cards are auctioned online for sale at lower costs, and individuals often acquire these Gift Cards only to find out later that the credit value is lower than they were led to believe, or that the Gift Card does not work at all.

Read Also: Best App to Sell Gift Cards in Nigeria

Conclusion

Buying only from legitimate retail outlets, rather than internet auctions, is the easiest method to avoid this. These guidelines can help you avoid being a victim of a gift card scam. Even if you discover you’ve been duped, call your brand’s customer support centre as soon as possible.

 

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