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As Americans continue to slide through holiday mode, they're going to get more calls, emails and texts for legitimate shopping deals. But they're also increasingly going to be the targets of ...
Authorities nationwide are warning holiday shoppers to take extra precautions when purchasing gift cards to put under the Christmas tree this year, as a gift card scam called "card draining" is ...
In addition to gift card scams, Visa has recognized five general types of scams to look out for over the next couple of months. Growing Up Poor: 13 Ways You’re Taught To Never Waste Money
Carding (fraud) Carding refers not only to payment card based fraud, but also to a range of related activities and services. Carding is a term of the trafficking and unauthorized use of credit cards. [ 1] The stolen credit cards or credit card numbers are then used to buy prepaid gift cards to cover up the tracks. [ 2]
Advance-fee scam. An advance-fee scam is a form of fraud and is one of the most common types of confidence tricks. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum. [ 1][ 2] If a victim makes the ...
The payment card interchange fee and merchant discount antitrust litigation is a United States class-action lawsuit filed in 2005 by merchants and trade associations against Visa, Mastercard, and numerous financial institutions that issue payment cards. The suit was filed because of price fixing and other allegedly anti-competitive trade ...
The reason why prepaid Visa Vanilla gift cards as well as other prepaid gift cards are being targeted by card draining scams is because of their versatility. These kinds of cards “can be used ...
The preferred method of payment in a technical support scam is through gift cards. [41] Gift cards are favoured by scammers because they are readily available to buy and have less consumer protections in place that could allow the victim to reclaim their money back. Additionally, the usage of gift cards as payment allows the scammers to extract ...