Experts: 2021 expected to be worst year yet for gift card scams
BURLINGTON, Vt. (WCAX) - This year is expected to be the worst year yet when it comes to people falling victim to gift card scams.
These types of scams have claimed nearly $500 million from Americans since 2018.
Anyone can be targeted for a scam like this, where fraudsters claim you owe money or say you need to pay up to collect cash. Gift cards make it easy because they are untraceable, and the money can’t be recovered once it’s lost.
Jenny Grounds from the Cybercrime Support Network shared one of the biggest warning signs, so you can stay prepared.
“Whenever there is a sense of urgency, they want you to act immediately. What they’re doing is they’re trying to instill panic so that you don’t stop and really pay attention to what is happening and that is how you get caught up in this sense of urgency,” said Grounds.
Experts predict these types of scams are likely to be even more widespread this year as gift card spending is expected to jump 27% due to supply chain shortages.
Watch the video to see our Dom Amato’s full interview with Jenny Grounds.
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