The FBI recently issued a warning stating an increase in gift card fraud incidents. The statement, released through their Internet Crime Complaint Center, highlighted that the secondary marketplace, where consumers can trade undesirable cards for cash or purchase discounted ones, is experiencing a surge in fraudulent activities.
According to the FBI, scams are prevalent on auction websites and involve both buyers and sellers. One common scam involves a victim making payment for non-existent gift cards. Another reported scam involves deceitful buyers who cancel their payment after receiving the all-important PIN that activates the gift card, leaving the seller without any compensation for their sale.
More details can be found on CBS Money Watch.
