Relevant Facts & Statistics
- Rise in Gift Card Scams: According to reports from India’s cybercrime units, gift card scams have been increasing due to their anonymity and difficulty in tracing.
- Common Targets: Scammers often target elderly individuals, less tech-savvy users, and online shoppers.
- Global Trends: As per cybersecurity studies, India is among the top countries affected by online financial frauds, including gift-related scams.
- High Recovery Challenges: Due to the nature of gift card transactions, victims recover only a fraction of lost funds, if at all.