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Consumer Alert
Credit Card Scam

        

The following narrative was received from a friend.

Consumer Beware!

This latest scam is pretty slick. The scammers provide YOU with all the data, except for just one piece of information they need. They do not ask for your card number; they already have it. By understanding how this VISA and MasterCard telephone credit card scam works, you'll be better prepared to protect yourself.

One of our employees got a call last Wednesday from 'VISA.'

The scam works like this: Caller: "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 item for $497.99 from a 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. In your next billing statement, a credit will be sent to (the caller states your address). Is this correct?"

You say, "yes."

The caller then continues, "I am initiating 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 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 Thursday, we called back within 20 minutes to ask a question. Are we glad we did! The REAL VISA Security Department told us this is a scam and in the last 15 minutes a purchase of $497.99 was charged to our card.

Long story - short - we filed a 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 MasterCard 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! When 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 happening." --

This report was verified at Snopes.com. Click here to check it out.

  

 

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