How do scammers extract money from the gift cards they get? How is it that companies can’t stop them?

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I was discussing different scam techniques I have heard of/seen with my husband the other day. I wondered out loud… “what do these guys do with iTunes or whichever gift cards they get?” Obviously they are not shopping at the Apple Store?

He said they have a way to get the money out of them, but didn’t know how it worked. I assume he’s right… now I am curious how does this happen, and why can’t apple or google make it harder for the scammers to use their gift cards?

EDIT – lots of good explanations! I was talking specifically about gift card scammers who convince their victims over phone/email/text to purchase gift cards and send them the activated codes. TIL there are many ways to use gift cards to scam ppl.

In: Technology

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Anonymous 0 Comments

Every group or individual is gonna have their own version but the 2 I commonly see are a. Setting up an online store and selling the item at a discount. Or b. Reselling the gift card to a 3rd party who is “innocent”

Companies have a hard time with the latter due to scale and level/reliability of evidence received. The former is a ***** to catch and basically my job.

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