This sucks. I was reading how about fraudsters buy counterstrike items to launder money and it’s crazy. They must have found steam cards are a huge part of the operation too.
I just want an alternative to the whole VISA/Mastercard BS and this one was the easiest.
From what I can tell from Kitboga videos, all retail gift cards are a lucrative way to launder proceeds from scams. Valve was probably just more tired of dealing with it.
It’s a classic case of bad actors ruining a great convenience for regular consumers. Physical gift cards were the perfect cash to digital bridge for privacy conscious users and people without traditional bank accounts. Unfortunately, the scale of refund fraud and elder scams involving these cards has gotten so massive that tech companies are realizing the retail footprint just isn’t worth the liability anymore.
This sucks. I was reading how about fraudsters buy counterstrike items to launder money and it’s crazy. They must have found steam cards are a huge part of the operation too.
I just want an alternative to the whole VISA/Mastercard BS and this one was the easiest.
From what I can tell from Kitboga videos, all retail gift cards are a lucrative way to launder proceeds from scams. Valve was probably just more tired of dealing with it.
I actually think this might also potentially have something to do with the lawsuit regarding potential gambling on the platform.
Because children absolutely could buy gift cards and use them to open loot boxes etc. Not positive but just throwing that out there.
I absolutely could be completely wrong about this.
It’s a classic case of bad actors ruining a great convenience for regular consumers. Physical gift cards were the perfect cash to digital bridge for privacy conscious users and people without traditional bank accounts. Unfortunately, the scale of refund fraud and elder scams involving these cards has gotten so massive that tech companies are realizing the retail footprint just isn’t worth the liability anymore.