Gift cards and the fraud supply chain

For this week's holiday-inspired Complex Systems, Patrick reads his essay from Bits about Money on the gift card paradox: a legitimate payments rail, yet also a primary vector for fraud that leaves victims without recourse.
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Full transcript available here: www.complexsystemspodcast.com/gift-cards-and-the-fraud-supply-chain/

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Sponsors: Givewell & Framer 

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Links:

Bits about Money, Gift cards accountability sink https://www.bitsaboutmoney.com/archive/gift-card-accountability-sink/Global China Puise, Moving Bricks https://globalchinapulse.net/moving-bricks-money-laundering-practices-in-the-online-scam-industry/ 

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Timestamps:
(00:00) Intro
(04:02) Most businesses do not run their own gift card programs
(06:40) Sponsors: Givewell and Framer
(09:00) Most businesses do not run their own gift card programs (part 2)
(10:27) Gift cards are not regulated like other electronic payments instruments
(12:07) Why do we choose this difference in regulation?