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VISA / MASTERCARD CREDIT CARD SCAMThese scam artists do not ask for your credit card number when they call you; they already have it. These scammers want the 3-digit PIN number on the back of the card. By understanding how the VISA & MasterCard Telephone Credit Card Scam works, you'll be better prepared to protect yourself.The scam works like this: A person calls you saying that they are from the Security and Fraud Department at VISA. They even give you a badge number. They inform you that your card has been flagged for an unusual purchase pattern and they are calling to verify this activity. The caller may even refer to the specific bank or credit union who issued your card. The caller asks you if you’ve made a purchase for an Anti-Telemarketing Device for $497.99 from a marketing company based in Arizona. When you say "No", the caller continues by telling you a credit will be issued to your account and that they have been watching this company closely. The caller further tells you that this unscrupulous company has been fraudulently charging consumers for this device. The caller tells you that most of the charges have been between $297 to $497 – which is just under the $500 purchase pattern that flags most cards for potential fraud. The caller then verifies your address and tells you that they will instigate a fraud investigation. They also tell you to call the 1- 800 number listed on the back of your card if you have any questions and ask for Security. The caller may also give you a 6 digit control number to make it sound even more official. The caller then says, "I need to verify that you are in possession of your card". He'll ask you to "Turn your card over and look for some numbers. There are 7 numbers; the first 4 are part of your card number, the next 3 are the security numbers that verify you are the possessor of the card. These are the numbers you sometimes use to make Internet purchases to prove you have the card." The caller will ask you to read the 3 numbers to him. After you tell the caller the 3 numbers, he'll say, "That is correct. I just needed to verify that the card has not been lost or stolen, and that you still have your card. Do you have any other questions?"  You actually say very little, and they never ask for or tell you the card number. The crooks now have all of the info needed to charge purchases to your credit card account. The best protection against these types of telephone schemes for obtaining sensitive credit card information is to always verify the identities of the people with whom you speak. If you have security questions or concerns about your credit card, call the financial institution who issued your card directly. If someone contacts you by phone about your credit card, ask the caller to provide his name, department, and extension, then hang up and call him back through the phone number listed on your credit card or billing statement. |
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