How To Avoid The Newest Credit Card Scam – Stealing Your Card Verification Code.

The scam works like this: Person calling says, “This is (name), and I am calling from the Security and Fraud Department at VISA.

My Badge number is 12457. Your card has been flagged for an unusual purchase structure, and… To study more, we understand you take a look at: http://www.purevolume.com/listeners/wakefulpatchwor69/posts/6588004/Compensation+Solicitor+-+Meet+Your+Expectations.

This fraud begins with a phone call usually your own house. The callers do not require your card number, they have it. By understanding how the VISA & MasterCard Telephone Credit Card Scam works, you will be better prepared to protect your self or staff.

The scam works like this: Person calling says, “This is (name), and I am calling from the Security and Fraud Department at VISA.

My Badge number is 12457. Your card has been flagged for a unique purchase sample, and I am calling to examine. This might be on your VISA card which was released by (name of bank). Did you purchase an Device for $497.99 from a

Marketing organization situated in Arizona?”

Whenever you say “No”, the owner remains with, “Then we are providing a credit to your account. This is a business we’ve been watching and the fees range between $297 to $497, just under most cards that are flagged by the $500 purchase pattern. Before the next statement, the credit will be sent to (gives your address) to you, is that correct?”

You say “yes.” The caller continues – “I will undoubtedly be starting a Fraud investigation. If you’ve any questions, you should call the 1-800 number listed on the back of your card and require Security. Identify further on this related website by visiting http://www.purevolume.com/listeners/wakefulpatchwor69/posts/6587941/Whiplash+Compensation+Claim+-+Take+These+Actions.

You will need to refer to this Control Number. The owner then gives you a 6 digit number. “Do you need me to learn it again?”

Here’s the CRUCIAL part on how the scam works. The owner then says, “I need to confirm 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 range, the next 3 are the CVV numbers that confirm you are the possessor of the card.

They are the numbers you sometimes use to create Internet purchases to prove you’ve the card. The caller may ask you to read the 3 figures to him. After you tell the caller the 3 figures, he’ll say, “That is right, I recently had a need to confirm that the card hasn’t been misplaced or stolen, and that you still have your card.

Are you experiencing any questions?” After you say No, the owner then thanks you and states, “Do not hesitate to phone back if you do. and hangs up.

You really say almost no, and they never require or tell you the Card number.

What the scammers want is the 3-digit PIN variety on the back of the card. Do not give it to them. Instead, let them know you’ll call VISA or Master card directly for evidence of their discussion.

Your credit card company won’t ever request anything on the card as they know the data because the card was issued by them! You think you are getting a credit, if you give your three Digit PIN Number to the scammers. However, by the time you get your statement you’ll see prices for purchases you didn’t make, and by then it’s almost too late or more difficult to truly report a fraud statement..