Scams With Telephone Calls and Security Codes

Telephone scams regarding credit cards is not a new scam; however with the changes in security on credit cards there are still new ways to use this same old scam. In Ottawa the police have warned consumers with credit cards of a new scam regarding telephone calls. Apparently the fraudsters call up pretending to the from the fraud department of their credit card company. When they make these calls they ask for personal information including the credit card security card found on the back of the card. It is important that everyone is aware of this scam to help protect them.

The police are still investigating to try and get the caller. The scheme starts off with a call as to whether a big ticket item was bought by the consumer. When the consumer says no, the caller then starts adding to the list of suspicious transactions. The caller provides a reference number for the customer’s file. At this point the caller then offers an 800 number to call. The caller as the end asks if the person still has the card and for verification by providing the three digit number.

The truth is no credit card company is going to ask you for this number. The fact is the credit card fraudster already has your name and address. They also have your credit card number. This is usually a result of dumpster diving for anything pertinent.

There are several ways to protect yourself from this type of credit card fraud. The first is to not offer any personal information that the card company should already have. You should tell the person it is not a good time to talk and verify the information by calling the card number on the back of your credit card. You should also verify fraudulent purchases on your online account through the card company.

Back To Financial News April 2008
Travel Rewards With Your Credit Card
APS and Prepaid Gold MasterCard
The Figures On Credit Card Balance Transfers
Pointers for Balance Transfers
Credit Card Interest
Credit Offers Limited
Executive’s Life Ruined by ID Theft
Getting Around Life’s Obstacles
How To Borrow A Grand
Paying for a Good Credit Rating
UK Debt and the Mortgage Industry
Abuse of Government Credit Cards
Asian Growth Helps UK
Banks Raising Funds Offers Hope
Darling and UK Banks Going Head to Head
Estate Agents and Card Fraud
Government to Help UK Banks
Insuring UK Gardens
Interest Rates Rising with Underhanded Techniques
Lost Luggage Insurance Removed
Overdraft Charges Increase Credit Card Balances
Prediction: 10 Percent Drop in Insurance Market
Rise in the Housing Market Prices
The Scams With Telephone Calls and Security Codes
UK Insurance Costs Rising