The Massachusetts Securities Division is warning investors, particularly seniors, of a telephone scam that asks for payment in the form of iTunes gift cards.
The division says that it has received a number of complaints from investors who've received calls requesting payment "on some pretext, asking that an iTunes card be purchased and the code on the card be provided to the caller."
Providing the code "will give the caller control of the card, so they can either use it themselves or sell it," the division said.
The scam is a variant of calls that claim a consumer owes taxes, has an unpaid hospital bill, or that their Microsoft license key is about to expire.
Another version of the fraudulent claims, the division says, claims that the consumer is "the recipient of a government grant, but must make a payment first."
Federal or state government agencies and legitimate businesses, the division warns, "do not request payments with iTunes gift cards," and notes that Apple, which is aware of the scams, has posted information on its website that addresses issues regarding them.
Some of the scammers seeking iTunes gift cards claim to be debt or tax collectors, and threaten to call the police or fake calls from police. The division urges investors with concerns to contact the Secretary William Galvin's office at 800-269-5428.
