How scammers steal your money using gift cards

On Behalf of | Jan 6, 2021 | Blog, Consumer Law

In Missouri and around the country, scammers are finding more creative ways to steal your money. One of the latest cons that is gaining popularity is using gift cards to steal your hard-earned cash. While giving someone a gift card as a present is still a great idea, you should always be careful to ensure that your gift card isn’t being used improperly.

How the scam works

There are many ways in which a scammer can use a gift card to steal money from you. One of the most popular methods is to call you and pretend to be from the IRS. The caller will try to scare you by claiming that you owe the IRS money and will be arrested if you do not offer some sort of payment. They will tell you to go to a particular store and purchase a certain gift card. Then, they will ask you for the gift card number and any codes. Once they have this information, the crooked scammer will be able to take the money off the card.

How to get your money back

There aren’t many consumer protections in place to help with gift card scams. This is because gift cards spend like cash. Therefore, the transactions can be difficult to trace. However, if you immediately report the scam to the company that issued the gift card, there is a chance that you could get some of your money back.

Protect yourself from gift card scammers

You should only purchase gift cards from a source you trust, and these cards should only be used for a gift. If anyone ever calls you and asks for money from a gift card or a wire transfer, you should never give them any information.

If you have been the victim of a scammer, you may benefit from consulting an attorney who understands consumer protections. An attorney might be able to help get your money back as well as compensation for any financial injury.