Image courtesy of NBC Palm Springs
NBC Palm Springs quoted Arkose Labs fraud expert Frank Teruel explaining how scammers drain gift cards at "massive scale" — tampering with physical cards on store racks, scratching off security codes and immediately siphoning funds once an unsuspecting buyer loads money. The FTC reported more than $200 million in gift card fraud losses in 2023 alone, and Teruel urged consumers to check cards for tampering and use credit cards for added dispute protection.
