Gift Cards Fraud Hurting Merchants and Consumers

businessweek.com — Most merchants are victims of gift card fraud. Most gift card losses (62 percent) are due to dishonest employees; 13 percent to counterfeit cards and 13 percent to stolen cards. Thieves are hitting consumers as well by buying gift cards with stolen credit cards where they can keep buying off of the gift card even if the credit card is reported. Jan 20, 2007 View in Crawl 4