I have been purchasing gift cards off of the internet and selling them for profit. Am I legally obligated to know where they are coming from?
Hello, I have been purchasing gift cards off of the internet and selling them for profit. I want to know if I am legally obligated to know where these gift cards are coming from.
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The short answer is yes, it would be to your benefit to know who is selling the cards to you. While you don't have to know the exact source of purchase—since gift cards are normally bought by one person and given to another—you need to protect yourself from criminals who might be selling stolen property.
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Hello, I have been purchasing gift cards off of the internet and selling them for profit. I want to know if I am legally obligated to know where these gift cards are coming from.
Lexi, Chatbot
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Yes
Lexi, Chatbot
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Robert L
Hi, my name is Robert, and I will be happy to help.
Robert L
The short answer is yes, it would be to your benefit to know who is selling the cards to you. While you don't have to know the exact source of purchase—since gift cards are normally bought by one person and given to another—you need to protect yourself from criminals who might be selling stolen property.
So let’s say I buy five thousand dollars’ worth of product, sell them, make my money, and the deal with the party that sold them to me is done—could I be charged for not knowing where they came from?
Robert L
You can’t “unring the bell,” so to speak, but you can implement procedures going forward to confirm the vendor’s identity.
So I won’t get in trouble directly, but I would need to be cooperative with any investigations?
Robert L
Yes, that is correct.
The more shady the transaction, the more likely authorities could get involved.
If you have serious doubts, you can report the transaction to law enforcement. They can temporarily hold the property until they confirm the legitimacy of the vendor.
Yes, so as long as I have clean conversations where I’m sure I’m only buying the product and that it’s not stolen or gained illicitly—even if it turns out it is—I’m not on the hook for that?
Robert L
Correct. You aren’t on the hook for theft, not with the facts you have relayed.
Robert L
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