Business Insurance Restaurant Division Contact Us Employment Practices Workers Compensation Home Page Home PageCoopers Insurance Agency Header



Beware, there is a new credit card scam going around!
Just Recently, Royal Bank received communication about a new scam spreading quickly across the country which involves scammers pretending to be fraud investigation agents for VISA and MasterCard in order to obtain your credit card security code.

With all these phone and internet scams these days it can be difficult to distinguish between what is real or someone trying to scam you. As usual, you always want to be cautious when handing out credit card information to anyone, but the difference between this new scam and other scams is they already have your credit card number and other personal information before they call. They present themselves as VISA or MasterCard fraud investigation "agents" and scare you into thinking that someone has stolen your credit card information. They verify your address, from previously obtained information, and say they will run an investigation. Immediately after, they will ask you to verify your 3 digit security code on the back, THIS IS WHAT THEY NEED to complete the scam. They come off as seemingly real agents, presenting you with their "company badge number" and other helpful information about fraud protection so it can be easy to get fooled into handing them your security code.

HOW IT WORKS (Full Scam Script)
______________________________________________________________________________

Person calling says - 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 I'm calling to verify. This would be on your VISA card which was issued by (name of bank).  Did you purchase an Anti-Telemarketing Device for $497.99 from a marketing company based in Arizona?'  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 pattern that flags most cards.  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 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 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 last 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 asks you to tell him the 3 digit security code on the back. 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.


src: http://www.snopes.com/crime/warnings/creditcard.asp
____________________________________________________________________


What the Scammer wants 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 or MasterCard will never ask for anything on the card, as they already know the information, since they issued the card! If you give the Scammer 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.

Click here for more info on staying secure against Credit Card Fraud


Coopers Insurance Agency
SCOTT COOPER INSURANCE AGENCY, INC.
(818) 706-2292
30423 Canwood St. Ste 239
Agoura Hills, CA 91301
www.CoopersInsurance.com
Info@CoopersInsurance.com
Los Angeles - San Fernando Valley - Ventura County, CA




DISCLAIMER:
Statements made during this video as to policies and coverage provide general information only. Information provided in this video does not constitute professional advice; if you have legal, tax or financial planning questions, you should contact an appropriate professional. Any hypertext links to other sites are provided as a convenience only; we have no control over those sites and do not endorse or guarantee any information provided by those sites.
Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
30423 Canwood Street Ste 239 | Agoura Hills, CA 91301
PH: 818-706-2292 | FX: 818-706-1176 | Email: info@coopersinsurance.com

Contact Us Facebook LinkedIn Google Plus