have certain pitfalls. Some feel that the absence of the thought of selecting a specific gift makes a gift card a worse choice than a poorly executed but individual gift. New products in the gift card industry are evolving to tackle this "impersonal" pitfall of gift cards; new services launched by some service providers allows for customization and personalization of gift cards. Gift cards have been criticized for the issuers ability to set rules that are detrimental to the purchaser or card recipient. For example, gift cards may be subject to an expiry date, administrative fees, restrictions on use, and absence of adequate protection in case of fraud or loss. Over time fees may render the value of a gift card zero. However, these issues have been addressed in recent years in some jurisdictions. In the United States, many jurisdictions limit or prohibit all fees or expiration dates for gift cards. Furthermore, because of the negative impact on sales that such policies can have, most merchants have adopted and even advertise a no fee, no expiration policy for their gift cards, whether or not state laws require it. In 2011, an estimated 2.5% of gift cards were subject to an expiration date and 2.7% to post sale fees. A quarter of gift card recipients still have not spent gift cards a year after receiving them, according to a Consumer Reports survey, and a majority of people say they end up spending more than the value of the card once they get to the store. On the other hand, consumers may try to use as much of a gift card as possible while avoiding spending money out of pocket, usually resulting in small values remaining on the card. Consumer laws in some places have addressed this. In Australia, a gift card can be exchanged for cash if there is a remaining amount that the business believes can't be "conveniently used." In the event of the bankruptcy of the issuing retailer, the outstanding value on gift cards is considered unsecured debt, and as such gift cards may become valueless. If the company intends to continue trading, gift cards may be honoured even in bankruptcy. Another issue regarding gift cards is the growing concerns from retailers and other businesses about what can be done to prevent gift cards from being exploited by fraudsters. Gift card information can either be stolen from their rightful