Tuesday, February 28, 2006

New Credit Card Scam or RW-(the original) does a PSA

I got this via e-mail and I don't know first hand that this is true, but it sounds plausible and fairly easy to fall for:

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 that you are actually 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
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 your 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 actual 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. 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 too 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
Please pass this on to all your family and friends. By informing each
other, we protect each other.

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