Tips to get your money back if you were the victim of a gift card scam
There’s a rise in gift card scams as we head into the holidays this year, and if you have been a victim, there still might be a way to get your money back.
With all the shopping being done during this holiday season, scammers are taking advantage of the frenzy. According to the Better Business Bureau, gift card scams are on the rise at this time, logging a 50% increase this year as compared to the same period last year.
The Federal Trade Commission says that consumers reported almost 50,000 cases of gift card or reload card fraud that amounted to more than $228 million in losses last year.
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What is a gift card scam?
A gift card scam is a type of fraudulent activity where thieves deceive individuals into providing them with gift card codes or other valuable information associated with the cards. It’s a popular con because the money associated with the gift cards is difficult to trace after a transaction has been made.
These scams can take various forms, but they usually involve tricking people into believing they owe money, have a legal issue, or need to pay fees using gift cards.
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Tips to get your money back if you were the victim of a gift card scam
If you become a victim of this kind of scam, there’s still a chance you can recover the amount that you lost. Here are some steps you can take.
Contact the gift card seller and tell them you were scammed. Give all information related to your purchase, including the number on the back of the card.
After reporting the scam to the company involved, ask them for your money back. The value of the card may have not yet been used by the scammer, in which case some businesses will refund your money. The faster you report the theft, the higher your chances of getting your money back.
Report the scam to the FTC at ReportFraud.ftc.gov and the BBB at BBB Scam Tracker. Reporting these incidents can help others who have also been victims, or prevent others from having to go through the same thing.
For more information about avoiding and reporting gift card scams, go to ftc.gov/giftcards.