• Fake agencies claim to provide financial services (e.g., credit score improvement).
• Victims are asked to pay via gift cards as a “processing fee.”
• No actual service is provided, and victims lose their money.

Ahmedabad Police Bust Gift Card Scam, Arrest Two

• Incident: Ahmedabad police arrested two individuals operating a lending club that cheated American citizens by promising to improve their credit scores in exchange for gift cards.
  
• Details:
  
  • The accused lured victims into purchasing gift cards as a service fee for enhancing credit scores.
  • The cybercrime cell raided their operation based on a tip-off, leading to the arrests.
  • This case underscores the global reach of gift card scams originating from India.
• Source: The Times of India