New York Secretary of State Robert J. Rodriguez today reminded businesses of a new law to protect consumers from potential gift card scams. Effective June 20, 2023, all businesses selling gift cards must display a notice at or near where any gift card or gift certificate is displayed or sold to caution consumers about gift card fraud. Requesting gift cards as payment has become increasingly popular with scammers as funds are nearly impossible to trace. According to the Federal Trade Commission in 2022, nearly 65,000 consumers filed a complaint related to gift card scams, equating to a total loss of $228.3 million. More information is available here.
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