Tuesday, February 17, 2009

Members advised to be wary of telephone scam

A familiar telephone scam involving VISA and MasterCard credit cards has been occurring in increasing frequency in recent months and, as such, members are being advised to be vigilant with respect to confidential personal information.
In this scam, victims typically receive a phone call from a caller who identifies himself as an investigator with the fraud department of VISA or MasterCard. The caller states that the victim’s account has been flagged for unusual activity and then asks if the victim has recently made a purchase in a distant region for a specified amount.
When the victim replies that they have not, the caller states that VISA/MasterCard will credit the amount of the fraudulent purchase to the victim’s account and then asks for verification of the credit card number and the three-digit code on the back of the card. The caller may also ask for other confidential information, stating that the information is needed to credit the amount to the account.
Once the victim gives the caller the information, the caller assures them the money will be credited to their account and ends the call. The scam artist then uses the information to go on a spending spree with the victim’s credit card.
If you receive an unsolicited call from an individual claiming to be a representative of VISA or MasterCard, do not give them any personal information. Instead, call the credit card company directly and ask to speak to a representative.

Modern Earth Web Design, Winnipeg, Manitoba, Canada