We have been made aware of a credit card scam that is happening in the Midwest. It has not been reported here, yet. We hope to prevent anyone from falling victim to this latest scam. Here is the basic info:
The victim receives a call from someone claiming to be from the VISA or MASTERCARD Security and Fraud Department. They tell you that they have spotted an unusual transaction on your account for an amount just under $500 and ask if you purchased the item. When you tell them “NOâ€, they tell you they have had a problem with this same type of transaction and it is a scam.
Here is where they get you.
They already have your credit card number. They only need the 3 number code on the back so THEY can make a fraudulent charge on your card.
To get you to give them the 3 number code, they offer to give you a “credit†on your account for the original amount they told you had been fraudulently charged. Once you give them the 3 number code, the immediately make a fraudulent charge on your account. Most people do not realize anything is wrong because they never asked for the credit card number. When the next bill arrives, there is no “credit†and a fraudulent transaction is shown on the bill.
To avoid this and ALL financial scams you should NEVER give any financial information to anyone who has called you or e-mailed you. If you receive a call and are not sure if it is legitimate, you should hang up and call the company yourself. Make sure the number you are calling is the official telephone number listed on the company website or in the phone book.
