Summary
Gift card scams are on the rise, with victims losing millions of pounds. Criminals are increasingly using gift cards as a method to steal money because banks have stronger protections in place. Experts urge consumers to be cautious when purchasing gift cards and to report any suspicious activity.
Key Facts
- Fraud involving gift cards has increased by about 25% over the last two years.
- In 2023/24, Report Fraud received 9,386 reports of gift card fraud, with losses amounting to over £18.5 million.
- Victims are often tricked into buying tampered or fake gift cards.
- Criminals may use phishing emails to offer fake gift card prizes or deals.
- Amanda Wolf from Report Fraud notes most fraud reports come after the festive season.
- Tesco advises customers to inspect gift cards for tampering before purchase.
- Consumers are encouraged to use two-factor authentication and purchase gift cards from trusted sources.
- Louise Baxter from the National Trading Standards Scams Team highlights the difficulty in tracking gift card fraud due to gift cards being hard to trace.
