As retailers and other businesses increase security measures to prevent the use of gift cards purchased with stolen credit card numbers, cyber criminals have been focusing on fraudulent gift cards, according to a report released this morning by Flashpoint.Traditionally, gift cards have been a quick way to make stolen credit card numbers pay off quickly. They buy the gift cards online, in bulk, then use the gift cards at their leisure or resell them, without worrying that the credit card number has been canceled — until the charge backs started coming in from the credit card companies and merchants wised up.
Maria Korolov is editor and publisher of Hypergrid Business. She has been a journalist for more than twenty years and has worked for the Chicago Tribune, Reuters, and Computerworld and has reported from over a dozen countries, including Russia and China.
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