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Hi, Friends
My husband received the following email message, and as he read it aloud to me a mystery cleared up for me as to how some credit card fraud on my card happened last fall. I was caught by the old scam in this email--hadn't heard of it before. So I'm passing it on to you in the hope that it will save you some grief if you use credit cards.
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Snopes, and urban legends checks it out!
New Credit Card Scam
This one is pretty slick since they provide YOU with all the information, except the one piece they want.
WARNING...New Credit Card Scam.
Note, the callers do not ask for your card number; they already have it.
This information is worth reading. By understanding how the VISA & MasterCard Telephone Credit Card Scam works, you'll be better prepared to protect yourself.
One of our employees was called on Wednesday from "VISA", and I was called on Thursday from "MasterCard". The scam works like this: Person calling says, "This is (name), and I'm calling from the Security and Fraud Department at VISA. My Badge number is 12460 Your card has been flagged for an unusual purchase pattern, and
I'm calling to verify. This would be on your VISA card which was issued by (name of bank). Did you purchase an Anti-Telemarketing Device for $497.99 from a Marketing company based in Arizona?"
When you say "No", the caller continues with, "Then we will be issuing a credit to your account. This is a company we have been watching and the charges range from $297 to $497, just under the $500 purchase pattern that flags most cards. Before your next statement, the credit will be sent to (gives you your address), is that correct?"
You say "yes". The caller continues - "I will be starting a Fraud investigation. If you have any questions, you should call the 1- 800 number listed on the back of your card (1-800-VISA) and ask for Security.
You will need to refer to this Control Number. The caller then gives you a 6 digit number . "Do you need me to read it again?"
Here's the IMPORTANT part on how the scam works. The caller then says, "I need to verify 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?" After you say No, the caller then thanks you and states, "Don't hesitate to call back if you do", and hangs up.
You actually say very little, and they never ask for or tell you the Card number. But after we were called on Wednesday, we called back within 20 minutes to ask a question. Are we glad we did! The REAL VISA
Security Department told us it was a scam and in the last 15 minutes a new purchase of $497.99 was charged to our card.
Long story made short - we made a real fraud report and closed the VISA
account. VISA is reissuing us a new number. What the scammers want is the 3-digit PIN number on the back of the card. Don't give it to them. Instead, tell them you'll call VISA or Master card directly for verification of their conversation.
The real VISA told us that they will
never ask for anything on the card as they already know the information since they issued the card! If you give the scammers your 3 Digit PIN Number, you think you're receiving a credit. However, by the time you
get your statement you'll see charges for purchases you didn't make, and by then it's almost to late and/or more difficult to actually file a fraud report.
What makes this more remarkable is that on Thursday, I got a call from a "Jason Richardson ! of MasterCard" with a word-for-word repeat of the VISA scam. This time I didn't let him finish. I hung up! We filed a
police report, as instructed by VISA. The police said they are taking several of these reports daily! They also urged us to tell everybody we know that this scam is happening.
Please pass this on to all your family and friends. By informing each other, we protect each other.
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Snopes says this scam isn't new, but the information is correct. In my case, the scam was changed up slightly. It happened long enough ago that I can't remember which piece of the vital information I may have given, but it started with a purported merchant calling to verify that I had made an order, which I hadn't. They then explained that they verified every order over $200 because of fraud. I never figured out until now how several other internet charges originating from the Las Vegas area were charged to my account. Although it was relatively quick and easy for me to take care of the situation, I'll be on the lookout for this sort of thing from now on.
One of the reasons it was fairly quick to take care of it is my use of the ATI service I promote. Rather than waiting to receive a statement, I receive notice of spending transactions to any of my bank or credit card accounts within 24-72 hours, depending on how fast the institution processes them. That allows me to both account for them in my budget virtually as they happen (so I don't overspend) and also to recognize immediately a transaction I didn't make.
Again, hope this information saves you from making the same mistake I did...never verify any information during an incoming phone call from a financial institution. Instead, independently look up the appropriate phone number and call back.
Cheri
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