The gift card scam is still alive and well.
We have a friend that recently lost over $50,000 to this scam.
It's a long story, but it involves the classic "con", meaning confidence.
They reach out to you over the internet or over the phone, gain your trust, and convince you that there is some problem with your computer /iPhone/Social Security or some other made-up reason.
They're often very professional these days.
This particular case had our friend running around town buying gift cards in $500 increments from various big box retailers.
Since this is so common, retailers now have protocols on the number of gift cards you can buy. They are well aware of these scams and are doing their best to help the people who are being robbed.
However, the scammers know this.
They have honed their craft to prepare the victim to rebuke any preventative measures that the security or store management would try to take to prevent the gift cards' purchase.
Our friend was instructed to tell the security personnel that the transactions "are for gifts for a family reunion" and "To buzz off!"
You can imagine how hard a security guard might proceed after being treated rudely by someone wanting to buy $1,000 worth of store gift cards!
Still, the purchases became so frequent that she became a known regular in the local big box store.
She's interested in getting this message out to let people know that it does happen, is happening, and please don't let it happen to you or your loved ones.
If you doubt a situation, please don't take a stranger's suggestion to keep it to yourself.
Talk with family, talk with professionals, talk with the police, talk with anybody independent of the person contacting you on the phone.
It's very likely that they are not your friend and that they are not looking out for your best interest.
Thank you for taking the time to read this and feel free to share the tips with loved ones or reach out to talk.
Your Team at ISC Financial Advisors