WARNING...New Credit Card Scam.
By understanding how the VISA & MasterCard Telephone
Credit Card Scam works, you'll be better prepared to
protect yourself.
Note, the callers do not ask for your card number;
they already have it.
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
(number). 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.
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 too late
and/or more difficult to actually file a fraud
report.
