System and Method for Preventing Fraud in the Secondary Market for Gift Cards

A system comprising:

• a processor;
• and
• a computer-readable storage medium storing instructions which, when executed by the processor, cause the processor to perform operations comprising:
• identifying an event associated with a prepaid gift account associated with a secondary market for reselling prepaid gift accounts, wherein the prepaid gift account has a verified initial balance that was established prior to the event;
• based on the event, performing a reverification of the verified initial balance of the prepaid gift account to yield an updated balance;
• and
• if the verification indicates that the updated balance is different from the verified initial balance, performing a corrective action.

A computer-readable storage device storing instructions which, when executed by a processor, cause the processor to perform operations comprising:

• identifying an event associated with a prepaid gift account associated with a secondary market for reselling prepaid gift accounts, wherein the prepaid gift account has a verified initial balance that was established prior to the event;
• based on the event, performing a reverification of the verified initial balance of the prepaid gift account to yield an updated balance;
• and
• if the verification indicates that the updated balance is different from the verified initial balance, performing a corrective action.