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

20 Answers

Anonymous 0 Comments

You can sell gift cards online – there’s a few websites that do it. Nothing shady. You just type in the gift card info and they send you money in exchange, while taking a percentage. If you have a $50 gift card, you’ll probably get like $40 of it in cash. It’s legit – I’ve had to do it a few times when I was in a pinch 🤷

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