Posted on 04/29/2015 2:26:20 PM PDT by SMGFan
There are a lot of purchases you can make with the information on the front of a credit card. But ID thieves who have the card number, name, and expiration date will still hit a speedbump if they have to enter that (usually 3-digit) security code on the back of a victim’s card. Notice that we said “speedbump” and not “dead end,” because some scammers have figured out how to get this crucial info from their victims.
According to our colleagues at Consumer Reports, the security code scam works by taking advantage of the near-constant news of data breaches that have hit retailers in recent years.
Once a scammer has the main information for the card, they can call the unwitting victim, claiming to be from the bank or credit card network. The caller will say there has been a suspicious transaction alert on that card and asks the victim whether or not they made that purchase.
(Excerpt) Read more at consumerist.com ...
LOL!
Yipes! We had a case of credit card fraud about 17 years ago. Someone ordered mobile phones on the husband’s credit card, but the crook had them delivered to another house on our street, just a few doors down. Scary part was that when my husband called he was told by the credit card company that the thief had his SS#.
Fortunately, though, we have not had any similar incidents, and the husband monitors our credit cards all of the time.
If I get a call from someone not clearly identified as family or friend, I answer my phone “Bueno!” like some families do. The results are amazing!
We have been called a couple of times by CC companies wanting to know about fraudulent charges. They have never asked us anything except....are you in New York making purchases? No, we didn’t think so.
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