Extending the Life of Credit Card FraudJuly 23rd, 2007 by josh farley
The newest trick ID thieves are using to generate quick cash?
In a story by USA Today Sunday, the newspaper reported thieves that are getting hold of stolen credit cards are going online, purchasing gift cards, then selling them to buyers who in turn sell the gift cards at a discounted rate.
The biggest problem with the scheme, it seems, is that thieves can buy and charge numerous gift cards — without even getting up from a computer — before a victim can deactivate the stolen card.
I haven’t heard any local Kitsap cases as yet, but I’ll keep you posted.