Illinois SB2014 aims to prevent gift card scams by regulating the sale of open-loop gift cards.
The Gift Card Scam Prevention Act mandates that merchants in Illinois must not knowingly sell open-loop gift cards unless they meet specific conditions. For in-person sales, merchants must display a notice and ensure the card is in secure packaging. For online sales, a notice must be displayed on the webpage before finalizing the sale. Exceptions apply for chip-enabled, numberless cards. Third-party gift card resellers must record transaction details for three years and allow law enforcement to inspect these records.
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