Scammers try to trick people into buying gift cards and reveal the code printed on the back to steal the money.
SOFIA, BULGARIA, March 14, 2022 /EINPresswire.com/ — State police in Michigan, Chicago and Pennsylvania are warning consumers about gift card scams in their latest announcement. The latest Federal Trade Commission reports reveal, “In the first nine months of 2021 alone, nearly 40,000 people reported $14 million in gift cards stolen.”
However, account recovery specialist Peter Thompson working at Cyber-Forensics.net, a cybercrime service for victims of online scams, explains: “Gift card scams are becoming more and more common and are improving every day. There is not enough support for consumers. This is no longer a problem limited to the states. They impact consumers around the world.
Therefore, consumers must find solutions to avoid these types of scams. The revealing statistics confirm that consumers need to be committed to slowing down the number of gift card scams by staying alert to how these scams are carried out.
Another reason to gather enough knowledge about these cheats is to stay protected. These scams can easily turn into new variants like funeral assistance or fake scenarios and steal money from users affecting their financial status.
How do gift card scams work?
One of the Michigan State Police spokespersons said: “The scammers will call, text or email people trying to get targets to buy a gift card and then ask the gift card number over the phone.”
But consumers should remember that these gift cards are for giving, not paying. More importantly, unlike other scams, gift card scams do not directly ask for bank details, but rely on instilling a sense of fear in customers. Scammers threaten to freeze customers’ accounts and tell them to buy gift cards to unfreeze their accounts.
Difficult to relive the experience for Michael Alan Winicour, who was amazed to have been the victim of a gift card scam.
Winicour apparently received an email from Apple with the subject “iTunes Apple Subscription”. Believing there was a problem, Winicour called the number provided in the email.
The scammer told Michael that his bills were found debited from his Apple account. The scammers convinced Winicour to buy $7,000 worth of gift cards within hours. It’s a story that even Michael’s son, Corey Blake, couldn’t fathom.
The scammer then asked Winicour to say the numbers on the back of the card. And after everything was settled and done, Michael ended up losing $8,497.48.
“It’s hard to understand how this happened to anyone, and yet it happens to tens of thousands of people,” Corey Winicour said.
Understanding the seriousness of the matter, several organizations are issuing urgent alerts to consumers and informing them of tips to protect their money. Timothy Benson, who is also a fund recovery expert, recommends the following:
How to protect yourself against gift card scams?
Timothy Benson, says, “Gift card scams have grown exponentially. They happen everywhere. Walmart, Target, Rite Aid, any company that sells gift cards could potentially run into the same problem.
Whatever the type of scams, they always have one thing in common: they harm the customer experience. However, many organizations have reinforced the practice of protecting buyers of goods and services from abuse. This is called consumer protection.
1) Stay Informed: With companies doing their best to protect basic consumer rights such as the right to value for money, the right to information, the right to choose, the right to redress, the right to safety, etc., consumers can ensure the following:
– Before purchasing a gift card, check the packaging for any tears, scratches or deliberate tampering.
– Make sure the gift card number matches the receipt provided.
– Keep the gift card receipt in a safe place.
– Call the numbers and solve the problem immediately if something goes wrong.
– Use gift cards soon. Never store them for later use.
– According to the Federal Trade Commission, the most common merchants used for gift card scams are Amazon, eBay, Best Buy, Google Play, Home Depot, iTunes, and even Green Dot MoneyPak.
2) Put fraud alerts on gift cards: A U.S. bank has taken note of the increase in cases and advised that “fraud can occur on any type of payment card, including a gift card. . If consumers have any issues with prepaid gift cards, they should call the numbers on the back and request timely assistance. They can even stay protected by placing scam alerts on their gift cards to ensure that these suspicious activities can be tracked and detected in time.
Are money recovery companies helpful in recovering lost money?
Fortunately, yes. If someone has been the victim of a gift card scam, fund recovery companies can investigate the matter accurately and expedite the process of recovering lost funds. They will inspect details of the scam, such as means, date, amount lost, location of scammers, and status of financial assets.
In addition, money recovery companies can help victims connect with relevant authorities in time. Using advanced technologies such as AI-powered tools, firm specialists implement facial recognition systems, information sourcing from social media, location tracking to inspect, analyze and resolve cases.
But unless the victims have contacted credible money recovery companies, all of their money and time may be wasted. There are enough customer reviews and comments that prove that Cyber-Forensics.net is an experienced service provider.
Cyber-Forensics.net is committed to providing the most accurate funds recovery service for victims of online scams. Cyber-Forensics.net enables and simplifies the process of tracking down cybercriminals and helps recover funds and create an atmosphere conducive to a negotiated settlement. For more information, please visit https://cyber-forensics.net/.
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