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BEWARE THE LATEST CREDIT CARD SCAM
May 16, 2008 - If you get a call from your credit card company informing you that your account
has been flagged because of suspicious activity, be skeptical.
A current scam works like this: A fraudster, claiming to be from the security department of a
credit card company, tells the consumer he is checking unusual account activity. He may even
offer a badge number. Then, he tells the consumer that a fake purchase, such as an $800
television from Best Buy, has been made on the card.
When the consumer says he did not make that purchase, the scammer explains that he is
starting a fraud investigation and gives the consumer a "confirmation" number. He says he
needs to verify that the consumer has the credit card and asks for the three numbers on the
back of the card, known as the card identification number. He may already have the
consumer's address and card number, and that verification code lets the fraudster ring up
charges on the card.
Discover spokesman Matthew Towson, who says he is familiar with the scam, gives this
advice:
• Card companies, including Discover, will never ask for a consumer's card identification
number. Instead, they use security questions, such as mother's maiden name or the
cardholder's high school.
• Consumers are not usually asked for card identification numbers unless they are making
purchases over the phone or the Internet. Being asked for it in other situations is a tip-off to
fraud.
• If a consumer calls Discover from a phone other than his home phone, the company will
probably ask for the account number, because it doesn't match the phone number, and follow
up with other security questions. But customer service representatives would not ask for the
card identification number.
My advice: If you get a call from someone claiming to be from your credit card company, hang
up and call the company yourself, using the number listed on the back of your card. That way,
you'll know whom you're talking to.
That's the whole story.
Source: U.S. News and World Report
May 16, 2008 - If you get a call from your credit card company informing you that your account
has been flagged because of suspicious activity, be skeptical.
A current scam works like this: A fraudster, claiming to be from the security department of a
credit card company, tells the consumer he is checking unusual account activity. He may even
offer a badge number. Then, he tells the consumer that a fake purchase, such as an $800
television from Best Buy, has been made on the card.
When the consumer says he did not make that purchase, the scammer explains that he is
starting a fraud investigation and gives the consumer a "confirmation" number. He says he
needs to verify that the consumer has the credit card and asks for the three numbers on the
back of the card, known as the card identification number. He may already have the
consumer's address and card number, and that verification code lets the fraudster ring up
charges on the card.
Discover spokesman Matthew Towson, who says he is familiar with the scam, gives this
advice:
• Card companies, including Discover, will never ask for a consumer's card identification
number. Instead, they use security questions, such as mother's maiden name or the
cardholder's high school.
• Consumers are not usually asked for card identification numbers unless they are making
purchases over the phone or the Internet. Being asked for it in other situations is a tip-off to
fraud.
• If a consumer calls Discover from a phone other than his home phone, the company will
probably ask for the account number, because it doesn't match the phone number, and follow
up with other security questions. But customer service representatives would not ask for the
card identification number.
My advice: If you get a call from someone claiming to be from your credit card company, hang
up and call the company yourself, using the number listed on the back of your card. That way,
you'll know whom you're talking to.
That's the whole story.
Source: U.S. News and World Report
