So I have been looking at classifieds for those who are selling their FF points. I am collecting Velocity points and was thinking to redeem it for something big in the near future. I know that some unlucky members got their account audited and got into trouble transferring points. How likely the audit happens actually? What factors that might make you get audited? How does the transfer work in general (easy/complicated/other)? I have never make any transfer out or receive any from other if that helps. Any input would be great.
Transfers are easy, you plug in the FF number of the person you want to transfer to and your relationship and hit the go button.
Transfers between non-family members are a breach of T&Cs and the airlines can suspend the accounts if they suspect you are in breach of T&Cs.
I suspect that those who do it frequently use a number of different accounts to avoid creating a pattern.
Another option is to redeem a flight in someone else name (at least with QF, not sure about VA). After the flight is booked you arrange a cash transfer between the parties.