Warning over national 'cash-only K-1 scam' after nearly $100,000 lost from one Target store in only FOUR DAYS

A TARGET store has been scammed out of nearly $100,000 in four days as officials warn the nation about the "K-1" scam.

The Michigan Target location was scammed out of $93,000 in gifts cards over four days in February, Genesee County Sheriff officials said.


Investigators say the elaborate hustle is known as the "cash only" or "K-1" scam.

The scam works when a customer walks to the register with cards that look like credit cards, on the back of the cards, there are cashier instructions on how to work with the card.

Officials say the scammer will swipe the card, and when it doesn't work, they give it to the cashier and make up a story about the card being a "cash only" card.

The perp will also say the cards are equipped with a "two-step verification."

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After following the steps, the cash drawer opens, and the registration processes it as a cash transaction, but the cashier believes that the credit card worked.

The suspects then leave with their item and a receipt, where the scammers then take that item to a different store and return it for cash.

Investigators say scammers often pressure cashiers that are new to the job or busy.

The scammers then use the stolen money to buy gift cards, continuing the cycle, making the scam “untraceable.”

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Officials learned about the scheme after conducting a traffic stop on a man who was found to have 106 gift cards with him.

Genesee County Sheriff Chris Swanson said the nationwide scheme has likely netted large store chains millions in losses.

Police have since identified several different crews using this scam, operating in the Flint, Michigan area.

Police said as recently as December, a crew of at least five individuals hit six different stores in four hours.

Officials have also identified Target and Walmart locations in Minnesota that have fallen victim to the schemes.

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“This is a grand theft from our stores… all of us pay for it,” Swanson said at a press conference.

The police chief urged cashiers not to give in to pressure from potential scammers and to call over a manager if something feels off.

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