Gift Cards Fraud: Challenges and Strategies for Consumer Protection in the Digital Age

Yuyut Prayuti

Abstract


The prepaid card industry in Indonesia, particularly gift cards, has exhibited significant growth in recent years. In 2023, the industry is projected to grow by 10.6% annually, reaching an estimated value of approximately US$1,958.4 million. The Indonesian gift card market recorded a Compound Annual Growth Rate (CAGR) of 11.4% from 2018 to 2022. The susceptibility of gift cards to fraud is a significant concern due to several intrinsic characteristics. This study aims to identify the various challenges in gift card payment fraud and analyze preventative strategies that could prove effective in addressing this issue. The research method used is normative juridical with a statute approach, case approach, analytical approach, and comparative approach. The conclusion of this paper emphasizes the importance of a holistic approach to addressing payment fraud using gift cards. The significant growth of the gift card industry in Indonesia must be accompanied by improved security and consumer education. This comprehensive approach is expected to close the loopholes exploited by fraudsters and result in effective consumer protection.


Keywords


consumer protection; digital age; fraud; gift cards.

Full Text:

PDF

References


Alya Anindita Maheswari. (2023). Perlindungan Konsumen Dalam Transaksi Jual Beli Melalui E-Commerce Lintas Negara. Jurnal Education And Development, 11(2), 162–173. Https://Doi.Org/DOI:10.37081/Ed.V11i2.4714

Anisya Aulia, Eni Ulandari, & Indah Salsabila. (2023). Kejahatan Carding Dalam Transaksi E-Commerce. De Juncto Delicti Journal Of Law, 2(2), 92–103. Https://Doi.Org/DOI:10.35706/Djd.V2i2.8020

Asteria Desi Kartikasari. (2023). Komoditas Emas Menanti Kejutan The Fed—Bisnis Indonesia. Bisnisindonesia.Id. Https://Production-496932930502.Bisnisindonesia.Id//Article/Komoditas-Emas-Menanti-Kejutan-The-Fed

Camerer, George Loewenstein, & Matthew Rabin. (2004). Advances In Behavioral Economics. Preton University Press; Russell Sage Foundation.

Cheng Wang. (2023). Overview Of Digital Finance Anti-Fraud. In In Book: Anti-Fraud Engineering For Digital Finance (Pp. 1–10).

Dan Horne. (2007). Gift Cards: Disclosure One Step Removed. Journal Of Consumer Affairs, 41(2), 341–350. Https://Doi.Org/DOI:10.1111/J.1745-6606.2007.00084.X

Daniel Horne & Neil Bendle. (2015). Gift Cards: A Review And Research Agenda. The International Review Of Retail, Distribution And Consumer Research. Http://Dx.Doi.Org/10.1080/09593969.2015.1086402

Dionne Bailey & Marti Deliema. (2022). PROTECTING RETAIL CUSTOMERS FROM GIFT CARD PAYMENT SCAMS. Innovation In Aging, 6, 572–572.

Dmitry Zhmurov. (2023). Digital Theft: Concept, Contents, Victims And Their Classification. Russian Journal Of Criminology, 17(1), 35–43. Https://Doi.Org/DOI:10.17150/2500-1442.2023.17(1).35-43

Erhard K. Valentin & Anthony Allred. (2012). Giving And Getting Gift Cards. Journal Of Consumer Marketing, 29(4).

Faiz Emery Muhammad & Beniharmoni Harefa. (2023). Pengaturan Tindak Pidana Bagi Pelaku Penipuan Phisning Berbasis Web. JURNAL USM LAW REVIEW, 6(1). Https://Doi.Org/DOI:10.26623/Julr.V6i1.6649

Gift Card Fraud: What It Is And How To Stop It. (N.D.). Arkose Labs. Retrieved 15 December 2023, From Https://Www.Arkoselabs.Com/Explained/Gift-Card-Fraud/

Haris Kusumawardana, Wahyu Hariadi, & Teguh Anindito. (2021). Tinjauan Yuridis Carding Sebagai Kejahatan Transnasional Terorganisir. Wijayakusuma Law Review, 3(2). Https://Doi.Org/DOI:10.51921/Wlr.V3i2.181

Indonesia Gift Card And Incentive Card Market Intelligence And Future Growth Dynamics. (2023).

J. Cairns. (2005). Get Loaded With A Pre-Pay E-Gift Card. Card Technology Today, 17(9).

Jingming Pan, Wenqing Shi, & Xiaowo Tang. (2017). Pricing And Ordering Strategies Of Supply Chain With Selling Gift Cards. Journal Of Industrial And Management Optimization, 13(2). Https://Doi.Org/DOI:10.3934/Jimo.2017050

Kusumawarni, F. E., & Solikhin, A. (2019). Pengaruh Pemberian Voucher And Gift Terhadap Minat Konsumen Untuk Membeli Produk Food And Beverage Di Alila Hotel Solo. Jurnal Pariwisata Indonesia, 14(2), 30–42.

Ni Made Yulia Dewati Ayu Ni Made Yulia Dewati Ayu & Jakaria. (2023). Pengaruh E-Commerce Terhadap Pertumbuhan Ekonomi Indonesia. Jurnal Ekonomi Trisakti, 3(2), 2891–2900. Https://Doi.Org/DOI:10.25105/Jet.V3i2.17499

Pencho Denchev Penchev. (2014). Carl Menger On The Theory Of Economic History. Reflections From Bulgaria. Panoeconomicus, 6, 723–738. Https://Doi.Org/DOI:10.2298/PAN1406723P

Rahmi Yati. (2023). Februari 2023, Kemenkominfo Catat 9.417 Hoaks Dan 1.730 Penipuan. Bisnisindonesia.Id. Https://Kabar24.Bisnis.Com/Read/20230303/15/1633674/Februari-2023-Kemenkominfo-Catat-9417-Hoaks-Dan-1730-Penipuan

Ralph E. Mckinney, Lawrence P. Shao, Dale H. Shao, & Duane C. Rosenblieb Jr. (2015). The Evolution Of Financial Instruments And The Legal Protection Against Counterfeiting: A Look At Coin, Paper, And Virtual Currencies. Journal Of Law, Technology & Policy, 2, 273–313.

Sarah Elvins. (2010). Scrip, Stores, And Cash-Strapped Cities: American Retailers And Alternative Currency During The Great Depression. Journal Of Historical Research In Marketing, 2(10), 86–107.

Satrio Budi Pramono & Grasia Kurnisti. (2023). Perlindungan Hukum Konsumen Dalam Transaksi Jual Beli Barang Online Di Indonesia. JLEB Journal Of Law Education And Business, 1(2), 166–178. Https://Doi.Org/DOI:10.57235/Jleb.V1i2.1037

Tim Norvell & Alisha Horky. (2018). Bonus Gift Card Programs: A Methodology To Measure The Impact On Revenue And Profit. The International Review Of Retail, Distribution And Consumer Research, 28(4). Https://Doi.Org/10.1080/09593969.2018.1490333




DOI: http://dx.doi.org/10.30659/ldj.5.4.484-495

Refbacks

  • There are currently no refbacks.


Law Development Journal has been indexed in: