A $100 gift card for $80. Does that sound like a tantalizing deal? Well chances are that card can be part of a larger fraud ring. Fraudsters now purchase these cards only to write the bank account and routing information, and the purchasers are inadvertently helping to launder the fraudster’s money. Many of these prepaid debit cards are traded on the underground market, and they show up for purchase on places such as Craigslist, or shady Internet Chat rooms.
Home Depot has already fallen victim to prepaid debit card fraud that was a result of a significant data breach back in April 2014. Another recent Forbes article mentions the income tax refund fraud schemes involving prepaid debit cards that have come to light in Florida.
IRS has reported that fraudsters impersonating IRS collection agents and compelling people to purchase prepaid debit cards to transfer amounts owing. If you encounter by email or phone somebody representing the IRS, you can report the incident to TIGTA who’s responsible for investigating those matters.
Harmari Search for Craigslist can help identify those that are frequently selling prepaid debit cards which may be tied to corporate or government fraud. Contact us today to see how we can help.