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Best Buy Supports Bill to Help Prevent Gift Card Fraud

Best Buy is supporting a new bipartisan bill in Congress that aims to prevent gift card fraud.

The Stop Senior Scams Act (S. 149), introduced by U.S. Sens. Bob Casey (D-PA) and Jerry Moran (R-KS), is designed to help raise awareness about gift card scams and other types of fraud and prevent seniors from becoming innocent victims.

“The more we can help shine a light on these scams and how they work, the more likely we are to stop them before they happen,” said Todd Hartman, Best Buy’s chief risk and compliance officer. “By working with other retailers, wire transfer companies, consumer groups and government partners, we are able to reach more potential victims.”

Best Buy’s support for this bill continues our efforts to make people aware of gift card fraud and how to avoid becoming a victim. Best Buy recently teamed up with AARP and the National Association of Attorneys General to launch a public service announcement exposing the fraud and educating consumers.

As gift cards have gained popularity in recent years, there’s also been a rise in criminals trying to trick consumers, often older Americans, out of their money. These scams are always evolving, but a common version asks victims to use gift cards to pay legal fees, bail, taxes or other “urgent” expenses.

Watch the video to learn more.