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A similar scam, promising that a "Trump Liberty Coin" purchased for $149 could be redeemed at Bank of America for $100,000, circulated in April 2024; a Bank of America spokesperson denied any connection between the bank and the coins. [8]
For gift card fraud, retailers are prone to be exploited by fraudsters in their attempts to steal gift cards via bot technology or through stolen credit card information. [42] In the context of [43] fraud, using stolen credit card data to purchase gift cards is becoming an increasingly common money laundering tactic. Another way gift card fraud ...
Billy McFarland at a 2014 Magnises event. Magnises was a card-based membership club co-founded by convicted fraudster Billy McFarland in August 2013. [1] Similar to Fyre Festival, another later scam by McFarland, Ja Rule was the spokesman. [2]
The Consumer Financial Protection Bureau (CFPB) on Wednesday warned that credit card companies devaluing or canceling reward points, cash back or miles rewards programs may be breaking the law.
Trump officials halted work at the Consumer Financial Protection Bureau, but the agency's public portal for reporting complaints about financial services companies continues to operate.
An example of the scam text people may receive reads as follows: "Pay your FastTrak Lane tolls by February 13, 2025. To avoid a fine and keep your license, you can pay at https://ezdrivema.com-xlk ...
Plaintiffs allege that Visa, Mastercard, and other major credit card issuers engaged in a conspiracy to fix interchange fees, also known as swipe fees, that are charged to merchants for the privilege of accepting payment cards, at artificially high levels. In their complaint, the plaintiffs also alleged that the defendants unfairly interfere ...
“Card draining” is particularly nefarious and has become the go-to scam of the moment for thieves because of the prevalence of gift cards and the fact that consumers are loading gift cards ...