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Fraud Prevention

Gift Card Fraud

December 27, 2012

A new scam has emerged in London, ON. Chronic skimmers and their associates have found a new way to increase their profits. They use skimmed card data to obtain various gift cards/pre-paid credit cards and then advertise these cards for sale on Kijiji. The purchasers verify the card balances and then pay cash for the cards at 75 to 80 cents on the dollar.

The fraudsters have already duplicated the magnetic stripes of these gift cards and begin converting the duplicate cards into different gift cards/pre-paid cards immediately following the sale. By the time the card purchasers attempt to use the cards, the accounts have been emptied and the fraudsters are able to “sell” these new cards.


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