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Generally speaking, credit card fraud is a pretty straightforward crime. Information is stolen and the card is used fraudulently. These days, however, scam artists are getting smarter. Now, they need only get part of your information. The rest they are getting right out of our own mouths. A recent credit card scheme in Boulder, Colorado is actually using the victims themselves to get the final piece of the puzzle.
Criminals are obtaining partial credit card information and then calling the victims posing as members of the Security and Fraud Department of your credit card. After giving you the information they have for your card, they then ask you about a suspicious purchase that never happened. When you say you did not make that purchase, they then promise you a credit to your account to make up for the fraud.
They confirm your address and then they claim they are starting a fraud investigation. They advise you to call the 1-800 number if you have questions and give you a fake control number. Finally, they have you “verify” that you have the card and ask for your security code on the back of the card. For the exact wording the criminals use, you can go here.
Most victims that have followed up with the real credit card companies quickly realize that they were had. Almost immediately, fraudulent purchases will show up and the gig is up. What folks don’t realize is that real security would never need information off your card. They were the ones that produced the card and gave it to you. They would have no reason to ask you for it.
What this particular scheme tells me is that people need to realize that phone calls from companies are not to be trusted. The bottom line is this. If you get an unsolicited phone call from a bank, credit card company or solicitor of any kind, hang up and call the company directly. Nothing good can come from a phone call that is instigated by someone other than you for business.
Of course, the scary part of this scam is how they got the information off your card in the first place. Perhaps they used a slider, skimmer or simply saw it when you were paying for something. The ways in which information can get stolen these days is amazing, so keep your information close to the vest. Doing so will ensure that you don’t have to worry about this in the future. This is only the newest thing that is happening but they will continue to evolve and change. Keep on top of things and protect your information like gold.