Credit Card SCAM-very clever PLEASE READ
This is a heads up for everyone regarding the latest in Visa fraud. Royal Bank received this communication about the newest scam. This is happening in the Midwest right now and moving across the country. This one is pretty slick, since they provide YOU with all the information, except the one piece they want. 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 last 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 last 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. We were 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. We made a real fraud report and closed the VISA account. VISA is reissuing us a new number. What the Scammer wants 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 Scammer 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 too late and/or more difficult to actually file a fraud report. It appears that this is a very active scam, and evidently quite successful…
EASY TIPS TO PROTECT YOURSELF FROM SOCIAL ENGINEERING * Use discretion when posting personal information on social medial. This information is a treasure-trove to scammers who will use it to feign trustworthiness. * Before posting any information, consider: What does this information say about me? How can this information be used against me? Is this information, if combined with other information, harmful? * Remind friends and family members to exercise the same caution. Request they remove revealing information about you. * Don’t send money to people you don’t know and trust.
Three common types of persuasion scams: * Tech Support Call Scams In tech support call scams, the scammer, claiming to work for a well-known software or technology company, cold calls victims in an attempt to convince the victim that his or her computer is at risk or attack, attacking another computer or is infected with malware, and that only the caller can remediate the problem In convincing the victim, the scammer often persuades the victim to provide remote access to the victim’s computer. The scammer can then install malware or access sensitive information. In some variations, the scammer persuades the victim to pay for unnecessary or fictitious anti-virus software or software updates.
* Romance Scams In romance scams, the malicious actors create fake profiles on dating websites and establish relationships with other site members. Once a sense of trust is established, the scammer fabricates an emergency and asks the victim for financial assistance. The scammer generally claims he or she will repay the victim as soon as the crisis is over. However, if the victim sends money, the scammer will prolong the scam, sometimes stealing thousands of dollars from the victim.
* Traveler Scams In this scenario, also known as the “grandparent scam,” malicious actors use information posted on social media websites by a traveling family member to trick other family members into sending money overseas. Often the scam targets the elderly, who are less likely to realize the information was originally posted online. The scammer will monitor social media websites for people traveling overseas, and then contact the family members (through the Internet or via telephone) with a crisis and requesting money be sent immediately. The scammers rely on all the information users post online about themselves and their trips to convince the family member they know the traveler and are privy to personal details, and thus should be trusted.