This bit of information was passed on by our in office loan rep According to Snope.com it is true and is happening, it hasn't happened to me, but better to know than not.
This one is pretty slick since they provide YOU with all the information, except the one piece they want.
Note, the callers do not ask for your card number; they already have it... This information is worth reading. By understanding how the VISA & Master Card Telephone Credit Card Scam Works, you'll be better prepared to protect yourself.
An Employee of a company was called on Wednesday from "VISA" and another person was called on Thursday from "Master Card". The scam works like this:
Caller: 'This is(Name), and I'm calling from the Security and Fraud Department at VISA. My Badge number is 12460. Your card has been flagged for an unusual purchase pattern, and Im calling to verify, this would be on your VISA card which was issued by (name of bank). Did you purchase an Anti-Telemarketng Device for $497.99 from a Marketing company based in ???'
When you say "No", the caller continues with, "Then we will be issuing a credit to your account. This is a company we have been watching and the charges range from $297 to $497, just under the $500 purchase patter that flags most cards. Befre 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 1-800 number listed on the back of your card (1-800-VISA) 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 ten says, "I need to verify you are in possession of your card." He'll ask you to turn your card over and llok for some nubers. There are 7 numbers; the first 4 are part of your card number, the nex 3 are the security numbers that verify you are the possessor of the card. Theses are the nubmers 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.. But after we were called
on Wednesday, we called back within 20 minutes to ask a
question.. Are we glad we did! The REAL VISA Security Department told us it was a scam and in the last 15
minutes a new purchase of $497.99 was charged to our card.
Long story - short - we made a real fraud report and
closed the VISA account. VISA is
reissuing us a new number. 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! If you give the scammers your 3 Digit PIN Number,
you think you're receiving a credit. However, by the
time you get your statement you'll see charges for
purchases you didn't make, and by then it's almost too
late and/or more difficult to actually file a fraud report.
What makes this more remarkable is that on Thursday, I got a call from a 'Jason
Richardson of Master Card'
with a word-for-word repeat of the VISA scam. This time
I didn't let him finish. I hung
up! We filed a police
report, as instructed by VISA. The police said they are
taking several of these reports daily! They also urged
us to tell everybody we know that this scam is happening.
> Please pass this on to
> all your family, friends and
> neighbors. By informing
> each other, we protect each other.
> Neighbors helping neighbors; always the best