Gift card companies are implementing measures to protect consumers from falling victim to online scammers who manipulate store credit transactions. According to the Federal Trade Commission (FTC), in 2022, over $228 million was swindled from nearly 65,000 consumers through gift card scams. To educate the public, the FTC issued a blog post warning against buying gift cards for scammers.
Fortunately, there are ways for individuals to recover funds unintentionally transferred to criminals. However, the best course of action is to avoid falling for gift card scams altogether. It’s important to recognize the signs of a fraudulent request for money. Scammers often initiate contact through phone calls, texts, emails, or social media messages, posing as legitimate businesses, charities, or even friends or family members. Their messages are urgent and pressure recipients to purchase gift cards, subsequently demanding the card details.
To illustrate, scammers have recently taken advantage of individuals seeking to contribute to Maui wildfire relief fundraisers. These criminals solicit donations via phone calls and direct messages on social media platforms. It is crucial to only contribute through verified organizations and avoid honoring requests for money using gift cards. Instead, the FTC advises using credit cards for donations.
For those looking to support Maui residents affected by the fires, various organizations, including the American Red Cross, the Hawai’i Community Foundation, Maui United Way, Maui Food Bank, and the Hawaii Animal Rescue Foundation, are actively involved in relief efforts.
Furthermore, gift card issuers are enhancing their efforts to combat such swindles. Some companies are flagging fraudulent transactions and freezing stolen gift card funds to impede scammers. These companies are committed to returning the funds to the rightful owners. In case of suspicion of being conned, individuals should report the incident to the gift card issuer and inquire about retrieving their funds.
It is crucial to remain vigilant and familiarize oneself with the tactics scammers employ. These tactics include creating a false sense of urgency, adopting names similar to legitimate charities, and insisting on payment through gift cards, wire transfers, or cryptocurrency. Legitimate sales or transactions will never require payment exclusively through gift cards.
Leading companies, such as Amazon and Walmart, echo these warnings. Amazon emphasizes that its gift cards should not be used as payment for other businesses or individuals. If Amazon gift card consumers believe they have been scammed, they should contact the customer protection review team. Similarly, Walmart advises gift card customers who suspect they have fallen victim to a scam to report the incident to a dedicated hotline.
In summary, by staying informed and vigilant, individuals can protect themselves from gift card scams. Companies are implementing measures to safeguard consumers, and it is crucial to report any suspicious activity and seek assistance from the appropriate authorities or customer protection teams.
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