December 7, 2007

Fraud alert

Today I learned that there are some really good scams out there. My boss sat us down for a meeting to give us the heads up on a new credit card scam. Apparently there are people that have your credit card number, your name and address. They call posing as the credit card company and ask you to verify the information they already have on you, then tell you they are calling because they suspect fraudulent activity on your account. They ask if you made a purchase at "so and so jeweler" for example and then you say No. They explain that they will credit your account during the next statement period for the fraudulent purchase. At some point in the conversation they will try to get the CVC code from your credit card as well since that is the only the information they are missing.

So you decide to check your statement and see that you have a charge from "so and so jeweler" and assume that is the fraudulent charge you were told would be credited and don't do anything about it since you think it's taken care of. But really it was the scammers charging your card at the store they told you about on the phone. See why this is trouble? So don't take the phone call, and check your credit card online, or call your credit card company yourself.

Reporting credit card fraud - Wikipedia

If you lose or have had your credit card stolen, you should immediately report it to your card issuer. Once you report the incident, you are no longer responsible for unauthorized charges made on your card.
In the US, credit card fraud can be reported to the Federal Trade Commission (FTC) and to local and regional authorities. It is the standing policy of the FTC not to investigate reports where the value of fraud does not exceed $2000. Local law enforcement may or may not further investigate a credit card fraud, depending on the amount, type of fraud, and where the fraud originated from.

What did you learn today?

No comments: