And because the vast majority of frauds are not reported to the government, this reflects only a fraction of the harm these scams cause. 3 In the first nine months of 2021 alone, nearly 40,000 people reported $148 million stolen using gift cards. 1 Gift cards are far more frequently reported than any other payment method for fraud, 2 and the numbers have reached staggering new highs compared to past years. About one in four people who report losing money to fraud say it happened when a scammer tricked them into giving the numbers on the back of a gift card. Reports to the FTC’s Consumer Sentinel show they’re also an easy way to take. About the FTC Show/hide About the FTC menu items.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.Competition and Consumer Protection Guidance Documents.Enforcement Show/hide Enforcement menu items.
