Threat actors can procure valid gift cards in several ways, such as scamming, phishing, and data breaches. Use the account balance to buy gift cards and sell them on secondary markets Sell the gift cardholder’s information (user name, password, serial number, PIN)Ĥ. Convert gift cards into cash on dedicated platformsģ. Use the stolen balance for personal purchasesĢ. Gift cards appeal to threat actors because they can use them for four general purposes:ġ. According to the FTC’s 2021 Consumer Protection Data Spotlight, gift cards are the most common payment method for scammers, leading to a reported $148 million stolen from consumers.
