'Tis the season to watch out for holiday gift card scams! If you're looking to purchase gift cards for your loved ones this season, be cautious of the all too common gift card scam.
Here are a few ways scammers might take advantage of gift card buyers:
Amazon or iTunes Gift Card Scam: Scammers often call their victims, pretending to be IRS representatives, and demand payment in the form of an iTunes or Amazon gift card. Always remember that no government agency will ever demand payment in the form of a gift card!
Stolen Card Number Scam: Sometimes, scammers go to retail stores and copy the serial numbers off of gift cards. This allows them to call the issuer to check the balance, and if it is full, they are able to use the gift card themselves. When selecting a gift card at a store, examine the packaging carefully and check for any tampering.
Auction-Website Scam: If you purchase a gift card on a reselling site, be sure the site offers a money back guarantee, in case you fall victim to a scam. Scammers will sometimes sell a gift card to a buyer, but spend the balance before the buyer receives it.
For more tips on how to recognize common holiday gift card scams and how to avoid becoming a victim, click here.