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  1. #1
    Join Date
    Jun 2005
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    Default Credit Card Fraud

    Hi everyone

    I'm posting this here as I received it in my email this morning. Just thought it would be a good warning for those that didn't get it.



    This is good information, verified on (On the Snopes site search "credit
    card scams" and click on item #2 after the search results come up). There is lots of
    info on SNOPES about this if you are interested in learning more.

    Take care of your credit cards.

    WARNING...New Credit Card Scam. This one is pretty slick since the crooks 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.
    Here's a story passed along the www: by a concerned citizen:

    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

    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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  4. #2
    Co-Admin YogiBrood's Avatar
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    Jun 2005
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    Thats a true and typical method that ONLY works when cardholders (esp. the first timers and old foggies) fall prey to such convincing & devious methods executed through the telephone.

    What most cardholders who are security conscious with applied deterrance to such con-callers are that they know one basic rule, these Financial Institutions DO NOT make telephone calls to verify ANYTHING pertaining to authenticity or possession of the cards.

    So, whatever you do or should you be caught in an awkward moment with a call from a stranger or even from a person you recognised the voice or thought you did, once a question is raised that relates to privileged information, remind yourself with: THATS NONE OF HIS/HER BUSINESS!!!

    Hang up after successfully obtaining the callers ID or telephone and "you will reconsider the query but give yourself the liberty to do so for another week".... not only will it piss off that person's failed attempt, hopefully you outsmart the person in revealing his/her position which you can pass it on to your card company when you report it immediately.

    Last edited by YogiBrood; 03-03-2006 at 09:50 AM.

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