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I work for a gift card re-seller. They buy...
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I work for a gift card re-seller. They buy unwanted cards for less than what they are worth, and sell them for still less than what they are worth but for more than they bought them for. My company gets a lot of its cards from a few people who sell large bulk orders of cards. Like 600 Walmart cards, all $25.

I have been trying to figure out where the hell the people who sell these large bulk orders to my company get their cards from. Obviously these people are making a profit from it, but where could they get these cards for lower price than the already heavily discounted rate that they sell them to my company for? Could it be some sort of money laundering operation?
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>>1027565
Probably stolen, or in some way related to it.

That's what I imagine most people do with bitcoin, use it to buy giftcards(there is multiple sites like this) which are then easy to convert to fiat dosh.
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>be Walmart employee
>use your 15% discount on a gift card
>sell hundreds to OPs company
>????
>profit

Really I doubt they get their discount when buying a gift card. If they do that would be a smart operation though.
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Also I like the idea for the company too I didn't know they had this. I've had hundreds of dollars in gift cards expire on me in my life.
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>>1027565
>>1027583
>>1027584
No.

This is almost 90% guaranteed to be stolen or purchased with stolen funds.

It's basically quick liquidation for them, losing 15-25% on the value is nothing in exchange for the liquidity of stolen goods. In fact I'd be surprised if companies that "re-sell gift cards" don't fall under stolen property laws if they do not collect sufficient evidence the gift cards were purchased legitimately.
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I am fairly certain that these cards were not stolen, nor the liquidation of stolen goods, since it would make sense to liquidate to cards that have the closest to face value price that the company will pay for, (like itunes cards,), but people also sell bulk orders of cards to us that have a much higher markdown. I think they are just acquiring these cards somehow through some sort of scheme or money laundering, or otherwise finding crazy deals on them somewhere.

>>1027586
Is there some sort of due diligence that is required to investigate whether the goods were stolen for any given order that we intake? What do you think this would require? Is there some sort of legal precedent that outlines this?
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>>1027565
Yea the cards were purchased with stolen credit cards. Black listed Amazon cards etc
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>>1027629
I dont think this is likely, since if we are in-taking large orders of blacklisted cards and reselling them, we should expect this to be problematic to customers in that they will be unable to use the cards, but to my knowledge there are been no large scale complaints of this nature. And the company database would link these problematic cards back to the original seller, but there are "regulars" who sell large bulk orders periodically.
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>>1027634
>I dont think this is likely, since if we are in-taking large orders of blacklisted cards and reselling them, we should expect this to be problematic to customers in that they will be unable to use the cards

It is. It doesn't have to be "direct", it could be for example: Stolen funds -> Mules -> Gift cards -> Sold to you for ca$h m0ney

>Is there some sort of due diligence that is required to investigate whether the goods were stolen for any given order that we intake? What do you think this would require? Is there some sort of legal precedent that outlines this?

I am not sure of specifics but this is very sketchy and I would imagine that it certainly would have some legal ramifications and procedures to take, especially when you start making large transactions regularly.


But anyway like I said this is most likely, Stolen Goods being sold for Bitcoin and then Bitcoin being used to purchase giftcards which are then sold to you. This way the Gift Cards would not be cancelled/blacklisted and would not cause problems for your customers.
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>>1027626
>I think they are just acquiring these cards somehow through some sort of scheme or money laundering, or otherwise finding crazy deals on them somewhere.

No man.

That's like saying people selling giftcards on Darkweb just "happened" to stumble upon this amazing deal and decide to sell it for 50% off for bitcoin. Cmon.
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>>1027650
What sort of stolen goods do you think it would be? It's usually just some jew who does not look capable of pulling off a heist. Maybe he is just a frontman though.

And why guy cards with Bitcoin if you already have the Bitcoin? Isn't that worth a lot on it's own?
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>>1027565
Afaik, usually those are company gifts or allocation to employees.
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>>1027565
ebay, get cashback and ebay bux through a portal and sell off the card for 85% of the value.
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>>1028857
Also unless you have reputation with the reseller if you try to offload a large amount at once they'll blacklist you, atleast the ones that aren't shady as fuck will.
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They could be acquired by farming shit like "swagbucks" which are then redeemed for gift cards. I'm not sure how extensive your operation would have to be to pull in hundreds of cards.
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