The National Retail Federation (NRF) has addressed reports of a new gift card scam detailing how consumers could lose money from gift cards if the numbers from the back of the card are stolen.

“The retail industry has implemented sophisticated safeguards to prevent thieves from obtaining and using consumers' gift cards,” said Joseph LaRocca, NRF vice president of loss prevention. “Most gift cards are outfitted with scratch-off security codes and protective packaging in addition to a special verification number distinguishing one gift card from another.” The organization encouraged holiday shoppers to keep the original receipt from the purchase of gift cards in the event of fraudulent use.

The NRF estimated gift-card sales will total $24.8 billion this holiday season.

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