Credit card issuer Visa has been hit with a proposed class action lawsuit after consumers alleged that the company purposely marketed and sold gift cards susceptible to thievery and then refused to refund customers who were scammed.
A consumer named Ira Schuman filed the complaint on Tuesday in the U.S. District Court for the Southern District of New York after claiming he lost $4,000 when bought eight $500 Visa Vanilla gift cards in 2022 and 2023 that were part of a “card draining” scam.
A “card draining” scam is when thieves remove the silver lining that covers the security code from the back of gift cards, record the security code, register
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