Fraud Alert - New Credit Card Scam

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Now that the new Chip & PIN system is making fraud at point-of-sale more difficult, criminals are now targeting “over the telephone or Internet” fraud.

Full Story:

It starts when you are called by a friendly voice saying that they are from the Security and Fraud Department at Visa / MasterCard / etc. The caller does not ask for your Card number - they already have that! What they aim to get from you is the 3 digit security code on the back of the card.

They say that your card has been flagged as it exhibits an unusual purchase pattern, and are calling to verify that you purchased an Anti-Telemarketing Device (or something similar) for £249.99 from a Marketing company based in (name of any town or city) and say that this was on your card issued by (the name of your bank).

When you confirm that you have not made the purchase, the caller
continues with, "Then we will be issuing a credit to your account.
this is a company we have been watching. Before your next statement,
the credit will be sent to (gives you your address!), is that
correct?" You say "yes". The caller continues - "I will be starting
a Fraud investigation. If you have any questions, you should call
the 0800 number listed on the back of your card and ask for
Security. You will need to refer to this Control Number. The caller
then gives you a 6 digit number. "Do you need me to read it again?"
Here's the IMPORTANT part on how the scam works. The caller then
says," I need to verify 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 number, the next 3
are the security Numbers that verify you are the possessor of the
card. These are the numbers you sometimes use to make Internet
purchases to prove you have the card. The caller will ask you to
read the 3 numbers to him. After you tell the caller the 3 numbers,
he'll say, "That is correct, I just needed to verify that the card
has not been lost or stolen, and that you still have your card. Do
you have any other questions?" After you say No, the caller then
thanks you and states, "Don't hesitate to call back; if you do", and
hangs up.

You actually say very little, and they never ask for or tell you the
Card number however, you may be sure that within minutes of parting
with your 3 digit Security Number your account will be debited with
hundreds of pounds.

The REAL VISA Security Department has informed us that this is a
scam. The actual script may vary, but remember, what the scammers
want is the 3-digit PIN number on the back of the card. Don't give
it to them. Instead, tell them you'll call VISA or Master card
directly for verification of their conversation. The real VISA told
us that they will never ask for anything on the card as they already
know the information since they issued the card!

By understanding how the VISA & MasterCard Telephone Credit Card
Scam works, you'll be better prepared to protect yourself.

Cardholders beware.