Police departments across the country are warning of a new scam involving empty gift cards.
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00:00 I'm JD Durkin reporting from the New York Stock Exchange and here's a look at what we
00:03 are watching on the street today.
00:05 Stocks are coming off a record-setting rally which saw the Dow climb to 37,000, its highest
00:11 level ever.
00:12 This comes after the Federal Reserve left rates unchanged for the fifth consecutive
00:16 month marking the final interest rate decision of 2023.
00:20 The central bank also indicated plans to cut rates three times in 2024 and four times in
00:25 2025.
00:27 Wall Street is also reacting to retail sales data today.
00:30 Consumers showed unexpected strength in November with retail sales climbing .3 percent compared
00:36 to the .2 percent decline seen in October.
00:39 In other news we're following today, federal regulators are warning about a new scam this
00:43 holiday season, card draining.
00:46 It's a popular scheme where gift cards are drained of all their cash leaving the purchaser
00:50 with an empty balance on the card.
00:52 However, there are at least a few ways to protect yourself from this scam.
00:56 Officials recommend making sure the gift card is in sealed packaging with no clear signs
01:01 of tampering and of course to keep the receipt.
01:04 If you find that the card balance is drained, immediately report it to the store to request
01:08 a freeze on the card.
01:10 Some officials suggest avoiding purchasing gift cards altogether this holiday season.
01:15 The stark warning comes after a California man was arrested for illegally draining over
01:19 5,000 Target gift cards.
01:22 That'll do it for your daily briefing.
01:24 On the floor of the New York Stock Exchange, I'm J.D. Durkin with The Street.
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