credit card scam

credit: Jewboy

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
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 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 happening.
Please pass this on to all your family and friends. By informing each
other, we protect each other.