Security News > 2021 > December > FTC: Americans lost $148 million to gift card scams this year
The US Federal Trade Commission said Americans reported losing $148 million to gift card scams during the first nine months of 2021, following a significant increase compared to last year.
Almost 40,000 consumers reported falling victim to scams where gift cards were the chosen form of payment throughout the year.
"The FTC has resources for consumers, including information on how to contact gift card companies to try to stop payments to scammers at ftc.gov/giftcards."
While Google Play, Apple, eBay, and Walmart gift cards have remained popular options for scammers, they now switched to asking for Target gift cards which are now their most popular choice.
"Most gift card scams start with a phone call from someone impersonating a branch of the government like the Social Security Administration, or a business," the US government agency added.
The most important thing to remember if you don't want to fall victim to a gift card scam is that gift cards are meant to be used to get gifts, NOT to make payments.