Canonical URL: https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/ --- description: The September 15 report describes criminal advertisements for electronic gift cards and researchers’ assessment of a resale chain. It does not quantify gift-card losses or establish a retailer systems breach. title: Recorded Future traces e-gift cards in Tajin financial-crime research image: https://giftcard.news/images/social/v1/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-3167d10980885c8966c3f4a304348ee0.jpg --- 1. [Home](https://giftcard.news/) 2. [Fraud & Security](https://giftcard.news/fraud-security/) # Recorded Future traces e-gift cards in Tajin financial-crime research The September 15 report describes criminal advertisements for electronic gift cards and researchers’ assessment of a resale chain. It does not quantify gift-card losses or… By [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) September 15, 2026 2 min read [ Google News ](https://google.com/preferences/source?q=giftcard.news&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Ffraud-security%2Frecorded-future-tajin-egift-card-laundering-research%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Recorded+Future+traces+e-gift+cards+in+Tajin+financial-crime+research&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Ffraud-security%2Frecorded-future-tajin-egift-card-laundering-research%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "LinkedIn") [ ](https://wa.me/?text=Recorded+Future+traces+e-gift+cards+in+Tajin+financial-crime+research+https%3A%2F%2Fgiftcard.news%2Ffraud-security%2Frecorded-future-tajin-egift-card-laundering-research%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "WhatsApp") ![Recorded Future research collage with illustrative person, phones and financial-crime labels](https://giftcard.news/images/variants/v1/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative-w1200.webp) Publisher’s research illustration. It does not identify the pictured person as a Tajin operator or victim and is not a photograph of a documented transaction. Photo: Recorded Future / Insikt Group [Recorded Future](https://giftcard.news/company/recorded-future/)’s Insikt Group has described electronic gift cards as part of the activity it investigated around Tajin Group, a vendor operating in Chinese-language Telegram-based guarantee marketplaces. The original research was published September 15 and examines conduct observed before that date. [\[S01\]](#article-source-1) Its gift-card section describes advertisements seeking bulk purchases of [Selfridges](https://giftcard.news/company/selfridges/) electronic gift cards. Insikt assesses that associates very likely use stolen payment-card details to buy the gifts, send them to addresses supplied by the group and feed a resale chain. That is the researchers’ assessment, not an independently established account of every purchase. ## Advertisements show an offer, not settled proceeds The report records an advertised payout equal to 45% of card value. The figure describes the group’s offer as observed by the researchers. It is not a verified settlement rate, a gift-card market benchmark or a measurement of money successfully laundered. [\[S01\]](#article-source-1) The report’s observation that a legitimate retailer supports electronic gift delivery does not establish a technical vulnerability or a breach of Selfridges systems. Nor does it prove merchant cooperation in the alleged misuse of payment credentials. ## A specific investigation with unquantified gift-card outcomes Insikt combines observations of marketplace postings with transaction analysis and proprietary payment-card research in its wider investigation. The gift-card section does not disclose a verified number of fraudulent cards, successful redemptions, affected recipients or attributable monetary losses. [\[S01\]](#article-source-1) Other fraud cases and financial figures discussed elsewhere in the report concern different activity and should not be transferred to this gift-card chain. A single vendor investigation also cannot establish the prevalence of gift-card laundering across the industry. The report illustrates how legitimate electronic delivery can sit within an alleged chain beginning with stolen payment credentials and ending in resale. The commercial distinction is between the original funded purchase and the subsequent buyer of the restricted value; neither stage is quantified as a completed gift-card loss in the published findings. ## In this article ### Companies * [Recorded Future](https://giftcard.news/company/recorded-future/) * [Selfridges](https://giftcard.news/company/selfridges/) ### Sources and documents * [\[S01\] Original September 15 Insikt Group research, gift-card section and evidence limits](https://www.recordedfuture.com/research/tajin-group-gurantee-marketplace?utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news) — Recorded Future / Insikt Group Share [ ](https://x.com/intent/post?url=https%3A%2F%2Fgiftcard.news%2Ffraud-security%2Frecorded-future-tajin-egift-card-laundering-research%2F%3Futm%5Fsource%3Dx%26utm%5Fmedium%3Dsocial&text=Recorded+Future+traces+e-gift+cards+in+Tajin+financial-crime+research&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "X") [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A%2F%2Fgiftcard.news%2Ffraud-security%2Frecorded-future-tajin-egift-card-laundering-research%2F%3Futm%5Fsource%3Dlinkedin%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "LinkedIn") [ ](https://wa.me/?text=Recorded+Future+traces+e-gift+cards+in+Tajin+financial-crime+research+https%3A%2F%2Fgiftcard.news%2Ffraud-security%2Frecorded-future-tajin-egift-card-laundering-research%2F%3Futm%5Fsource%3Dwhatsapp%26utm%5Fmedium%3Dsocial&utm%5Fsource=giftcard.news&utm%5Fcampaign=giftcard.news "WhatsApp") ![Portrait of Daniel Brooks](https://giftcard.news/images/variants/v1/daniel-brooks-editorial-portrait-w320.webp) About the author ## [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) Journalist — Payments, Security & PCI DSS Daniel Brooks covers payment networks, financial technology, payment security, gift card fraud and PCI DSS for Gift Card News. From reading to building ## Your next move in gift cards. Tell us what you’re building. We’ll help you explore suitable providers. [Find a provider ](https://giftcard.news/find-a-provider/) ## Related articles [Fraud & Security](https://giftcard.news/fraud-security/) News ### [giftee Group estimates JPY 550 million loss after unauthorized e-gift issuance](https://giftcard.news/fraud-security/giftee-unauthorized-egift-issuance-estimated-loss-2026/) [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) October 26, 2026 3 min [Fraud & Security](https://giftcard.news/fraud-security/) News ### [San Francisco settlement creates $1.525 million Vanilla gift-card fund](https://giftcard.news/fraud-security/san-francisco-vanilla-gift-card-restitution-fund/) [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) October 23, 2026 4 min [Fraud & Security](https://giftcard.news/fraud-security/) News ### [Valuedesign reports card-data leak as MOS resets PINs](https://giftcard.news/fraud-security/valuedesign-value-card-data-leak-mos-card-2026/) [Daniel Brooks](https://giftcard.news/author/daniel-brooks/) October 23, 2026 4 min ```json {"@context":"https://schema.org","@graph":[{"@type":"NewsMediaOrganization","@id":"https://giftcard.news/#publisher","name":"Gift Card News","url":"https://giftcard.news/","description":"News and analysis covering gift cards, retail, loyalty, rewards and payments worldwide.","logo":{"@type":"ImageObject","url":"https://giftcard.news/icon-512.png","contentUrl":"https://giftcard.news/icon-512.png","width":512,"height":512,"@id":"https://giftcard.news/#logo"},"publishingPrinciples":"https://giftcard.news/editorial-policy/","correctionsPolicy":"https://giftcard.news/editorial-policy/"},{"@type":"WebSite","@id":"https://giftcard.news/#website","url":"https://giftcard.news/","name":"Gift Card News","description":"News and analysis covering gift cards, retail, loyalty, rewards and payments worldwide.","inLanguage":"en","publisher":{"@id":"https://giftcard.news/#publisher"},"potentialAction":{"@type":"SearchAction","target":"https://giftcard.news/search/?q={search_term_string}","query-input":"required name=search_term_string"}},{"@type":"Person","@id":"https://giftcard.news/author/daniel-brooks/#person","name":"Daniel Brooks","url":"https://giftcard.news/author/daniel-brooks/","description":"Daniel Brooks covers payment networks, financial technology, payment security, gift card fraud and PCI DSS for Gift Card News.","jobTitle":"Journalist — Payments, Security & PCI DSS","image":{"@type":"ImageObject","url":"https://giftcard.news/images/daniel-brooks-editorial-portrait.webp","contentUrl":"https://giftcard.news/images/daniel-brooks-editorial-portrait.webp","width":1254,"height":1254,"caption":"Illustrated portrait representing the Daniel Brooks editorial profile.","@id":"https://giftcard.news/images/daniel-brooks-editorial-portrait.webp#image","encodingFormat":"image/webp","description":"Illustrated portrait for Daniel Brooks, a Gift Card News editorial pen name","creditText":"Gift Card News / AI-generated illustration"}},{"@type":"ImageObject","url":"https://giftcard.news/images/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative.webp","contentUrl":"https://giftcard.news/images/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative.webp","width":1200,"height":450,"caption":"Publisher’s research illustration. It does not identify the pictured person as a Tajin operator or victim and is not a photograph of a documented transaction.","@id":"https://giftcard.news/images/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative.webp#image","encodingFormat":"image/webp","description":"Recorded Future research collage with illustrative person, phones and financial-crime labels","creditText":"Recorded Future / Insikt Group","isBasedOn":"https://www.recordedfuture.com/research/tajin-group-gurantee-marketplace"},{"@type":"NewsArticle","@id":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/#article","url":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/","headline":"Recorded Future traces e-gift cards in Tajin financial-crime research","description":"The September 15 report describes criminal advertisements for electronic gift cards and researchers’ assessment of a resale chain. It does not quantify gift-card losses or establish a retailer systems breach.","datePublished":"2026-09-15T00:00:00.000Z","dateModified":"2026-10-15T06:19:45.441Z","inLanguage":"en","mainEntityOfPage":{"@id":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/#webpage"},"isPartOf":{"@id":"https://giftcard.news/#website"},"isAccessibleForFree":false,"hasPart":[{"@type":"WebPageElement","isAccessibleForFree":false,"cssSelector":".reader-restricted"}],"image":[{"@type":"ImageObject","url":"https://giftcard.news/images/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative.webp","contentUrl":"https://giftcard.news/images/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative.webp","width":1200,"height":450,"caption":"Publisher’s research illustration. It does not identify the pictured person as a Tajin operator or victim and is not a photograph of a documented transaction.","@id":"https://giftcard.news/images/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative.webp#image","encodingFormat":"image/webp","description":"Recorded Future research collage with illustrative person, phones and financial-crime labels","creditText":"Recorded Future / Insikt Group","isBasedOn":"https://www.recordedfuture.com/research/tajin-group-gurantee-marketplace"}],"articleSection":"Fraud & Security","keywords":["Recorded Future","Selfridges"],"mentions":[{"@type":"Organization","@id":"https://giftcard.news/company/recorded-future/#entity","name":"Recorded Future","url":"https://giftcard.news/company/recorded-future/"},{"@type":"Organization","@id":"https://giftcard.news/company/selfridges/#entity","name":"Selfridges","url":"https://giftcard.news/company/selfridges/"}],"wordCount":315,"citation":[{"@type":"CreativeWork","name":"[S01] Original September 15 Insikt Group research, gift-card section and evidence limits","url":"https://www.recordedfuture.com/research/tajin-group-gurantee-marketplace","publisher":{"@type":"Organization","name":"Recorded Future / Insikt Group"}}],"author":[{"@id":"https://giftcard.news/author/daniel-brooks/#person"}],"publisher":{"@id":"https://giftcard.news/#publisher"}},{"@type":"WebPage","@id":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/#webpage","url":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/","name":"Recorded Future traces e-gift cards in Tajin financial-crime research","description":"The September 15 report describes criminal advertisements for electronic gift cards and researchers’ assessment of a resale chain. It does not quantify gift-card losses or establish a retailer systems breach.","datePublished":"2026-09-15T00:00:00.000Z","dateModified":"2026-10-15T06:19:45.441Z","inLanguage":"en","isPartOf":{"@id":"https://giftcard.news/#website"},"mainEntity":{"@id":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/#article"},"breadcrumb":{"@id":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/#breadcrumbs"},"primaryImageOfPage":{"@id":"https://giftcard.news/images/recorded-future-traces-e-gift-cards-tajin-financial-crime-research-collage-illustrative.webp#image"}},{"@type":"BreadcrumbList","@id":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/#breadcrumbs","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://giftcard.news/"},{"@type":"ListItem","position":2,"name":"Fraud & Security","item":"https://giftcard.news/fraud-security/"},{"@type":"ListItem","position":3,"name":"Recorded Future traces e-gift cards in Tajin financial-crime research","item":"https://giftcard.news/fraud-security/recorded-future-tajin-egift-card-laundering-research/"}]}]} ```