Leawood, KS – March 2, 2022: The State of New York has introduced a bill which requires gift certificate sellers to provide notice of prepaid card scams at the location where a gift certificate sale occurs. New York Senate Bill 266 (NY SB266) was first introduced on January 6, 2021 and is currently under review by the Senate Consumer Affairs and Protection Committee. As currently written, NY SB266 will become effective ninety days after becoming law.
Pursuant to NY SB266, the following notice shall be provided by a “person, firm, partnership, association or corporation” for all gift certificate sales: “Protect yourself from prepaid card scams; including requests related to lotteries, taxes, employment status or utility payments. Do not provide any prepaid card information to someone you do not know; including PIN number or card number. If you feel that you are a victim of fraud, contact local law enforcement.”
Such notice shall be provided on an electronic payment system screen before finalizing payment, or, alternatively, such notice shall be posted in a conspicuous manner in the location where the sale occurs.
To read New York Assembly Bill 266 click here: New York AB 266.
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