The FBI has recently warned about a rise in gift card fraud. Shared through their Internet Crime Complaint Center, they pointed out that the secondary market, where people trade unwanted gift cards for cash or buy them at a discount, is seeing more fraudulent activity.
The FBI noted that scams are common on auction sites and affect both buyers and sellers. One frequent scam involves someone paying for a gift card that doesn’t exist. In another scam, dishonest buyers cancel their payment after getting the PIN that activates the gift card, leaving the seller with nothing.
For more details, you can visit CBS Money Watch.