How Credit Card Scam Work

Be alert

latest credit card scam.
Please pass this on to everyone you know...

This one is pretty slick since they  provide Y O U 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 Friday 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 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 £297 to £497,
just under the £500 purchase pattern that flags  most cards.  Before your next
statement, the credit will be applied to your account.  I just need to confirm your address (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 number listed on the back of your card and  ask for the Security & Fraud Department.

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, 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
£497.99 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 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.

What makes this more  remarkable is that on Friday, 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."