Just a quick post about a scam I’ve seen doing the rounds recently.
A scammer will use a swipe credit card to put several hundred pounds onto store gift cards. They will either use stolen or cloned credit cards or open an account and claim the card was used fraudulently. As the transaction has to be verified with a signature they can simply sign any signature – if it doesn’t match the signature on the card then the credit card company will charge back the money.
The beauty of using these cards to put money onto store gift cards is that many stores such as Tesco will allow you to buy anything with the gift cards including high end items such as electronics, alcohol and cigarettes. It is also extremely difficult to close the gift cards since stores don’t keep records of the gift cards they sell.