New credit card scam….watch out…read..

This one is pretty slick since they 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.

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 R497.99 from a Marketing  company based in London?’ 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 R297 to R497, just under the R500 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 0800 number listed on the back of your card  (0800-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 R497.99 was  charged to our card.

Long story – 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 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! 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.

Do you want to get credit card..