Thursday, May 24, 2012

Credit card scam

Yahoo Finance has an interesting article about some recent credit card scams.

"The scam involves a person being called by someone claiming to be from their bank. They are told that their debit or credit card needs collecting as it needs replacing following fraud on their account.
The caller often suggests that the person hangs up and calls the bank back if they want to ensure the call is genuine, but stays on the line, tricking the person into thinking they’re calling their bank. The criminal will then ask the person to key in their PIN number, before sending a courier to collect the card. The victim is told the card is going to the bank to be changed but it is actually delivered to the fraudster to use along with the PIN obtained during the scam"

the above scam has some assumptions.
1. You get the initial call on your landline number. Since I suppose people can spot when their mobile is on a call.
2. The victim uses the same landline to call the bank. Not their mobile number.
3. I would imagine that victims of such scam are older in age that do not use mobile phones, or that would be less likely to spot that their landline call did not hang up.
4. Those people are less likely to read about this scam online.

Bottom line. DO NOT GIVE or TYPE YOUR PIN OVER THE PHONE TO NOBODY. Never hand your Credit Card over to anyone who comes to collect it.

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