SCAM ALERT

A new twist on an old scam has surfaced in recent days. Visa and Mastercard holders are receiving calls from the Security and Fraud Department stating the credit card issued through their bank has been flagged for suspicious purchases and asks; “Did you purchase any item for $297 to $497”. If you say “no”, they will say that there will be a fraud investigation started and that any fraudulent charges will be refunded to you. They will then ask you to verify that the card is still in your possession. When you say “yes”, they will ask for the three digit security code on the back. Once you give them that three digit code they will thank you and hang up.  The three digit code is all they were after; now armed with the security code and other information they already have, they can commit identity theft and fraud. During this conversation you will have very little to say; the caller will provide you with the credit card number and other information off the credit card.

We reported on a similar scam back in January; these scams continue to exist because people will still provide the caller with this information. Until we force the scam artists to come up with other schemes, they will continue to use a tried and true method of getting money. If you are the least bit suspicious or doubt the legitimacy of the caller, tell them that you will contact the company and verify that there are indeed problems with your account.

Here are some tips to keep from being a victim of identity theft and fraud:

• First and foremost, never provide personal or financial information over the internet or telephone unless you are sure of the legitimacy of the requestor or you initiate the contact. 

• The credit card company will never ask to verify information on the card; as the issuing company they already have it. 

• Never call a number given to you by the caller, always use the number on the back of the credit card.