New Scammers After Credit Cards

Winter 2007 CSANews Issue 65  |  Posted date : May 22, 2008.Back to list

Here is yet another credit card scam to add to the seemingly endless number of existing scams. Be aware of callers claiming to represent the Security and Fraud Department at either Visa or MasterCard. This new hoax is especially tricky, since the caller does not ask you for personal information. Rather, they provide YOU with all of your information, except for the one thing that they’re really after – the three-digit pin number on the back of your credit card. The ploy usually involves the caller informing you that your credit card is being verified for fraudulent activity, i.e. a phoney purchase. You are asked to confirm that your card is indeed in your possession by providing the three-digit security pin number. With this three-digit number, the scammers now have carte blanche to purchase whatever they want with your credit card.

Again, here’s another hard lesson in protecting yourself against con artists who will go to any lengths to steal your money. To keep yourself protected, always remember that you should NEVER give any personal information and/or money to ANYONE, unless you know exactly who you’re dealing with.