Raising the Bar on Gift Card Security: Key Takeaways from the GCVA Financial Integrity Summit

As the gift card industry grows, so do the threats surrounding it. Last week’s Financial Integrity Summit in Amsterdam, hosted by GCVA and BVCNL, brought together retailers, issuers, law enforcement, and fraud experts to confront the rising challenge of gift card fraud head-on.

The Reality in 2025: Fraud is Evolving Fast

Gift card fraud is no longer an isolated issue — it's an international, organized, and fast-moving threat.

From Homeland Security’s Project Red Hook to reports across the U.K. and Europe, the data paints a clear picture:

A single 4-person fraud cell caused over $40M in losses.

One U.S. retailer reported $300M+ in gift card fraud.

560+ media stories in the U.K. last year mentioned gift card scams.

But beyond the numbers, the reputational damage and loss of consumer trust are what truly put the industry at risk.

What We Learned at the Summit:

1.⁠ ⁠Criminals move fast — so should we.

Therese van Vliet (VVV Cadeaukaart) reminded us that fraudsters pressure companies into quick action with fake requests, using freshly created domains and vanishing within days. Her advice? Always verify the origin, and report to police, even if it's after the fact. Building a trail helps catch perpetrators over time.

2.⁠ ⁠Small losses, big consequences.

André Moen (Intersolve) pointed out that although fraud may impact only a small percentage of revenue, it can lead to big UX trade-offs. Retailers are hesitant to overcomplicate the buying journey — but ignoring fraud only delays the damage.

3.⁠ ⁠The media can be your ally.

Steve Leigh (reputation & PR specialist) encouraged brands to take back the narrative:

“You’re the victim — the media is often on your side.”

Proactively educating the public, issuing human responses, and joining GCVA-led comms can protect your brand and reinforce that the industry is responding.

What We Can Do as an Industry

✅ Smarter Tech: Delayed activation, geolocation tracking, KYB for B2B, and stronger packaging

✅ Unified PR Response: Let industry groups like GCVA speak broadly when needed

✅ Consumer Education: Share fraud tips clearly, especially during peak seasons

✅ Retail Training: Equip frontline staff to spot red flags

✅ Law Enforcement Collaboration: Connect the dots between cases, even across borders

Final Thought

Gift cards are a beloved product — flexible, joyful, and trusted. But that trust only lasts if we protect it.

This summit wasn’t just about fraud prevention — it was a call for collaboration, action, and accountability. Together, we can preserve the strength of our industry by moving from reactive fixes to proactive strategy.

Want to learn more or join the conversation?

Check out: https://protectmygiftcard.com

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This blog came about in collaboration with MGC Europe.