NC State Regulations

When most people think about telephone fraud scams, they instantly associate it with being asked for their personal financial information. But what happens when the person calling you already has it?

A warning has been issued for the reemergence of the Visa & MasterCard Telephone Credit Card Scam. The difference with this scam is that the fraudulent caller will not ask for any personal information, rather they will provide you with it, including your credit card number, name, address, and phone number. This is to make you believe they are legitimate, so you will provide them with the one piece of information they still need.

The fraudulent caller will begin the conversation, claiming to be either a Visa or MasterCard representative from the Security and Fraud Department. The caller will provide you with a badge number and indicate that your credit card has been flagged for an unusual purchase pattern.

He/she will provide the name of the bank issuing your card, then ask if you purchased an Anti-Telemarketing Device for $497.99 from a marketing company based in Arizona. After you say “No,” the caller will explain that a credit will be applied to the card before your next statement and will verify your home address.

Once you approve your address, the caller will tell you he/she is “starting a fraud investigation,” advising you to call the 1-800 number on the back of the card and ask for Security, if you have any questions. They will also give you a six digit Control Number to refer to when calling.

The next piece of information is the most important, as it is how the scam works. The caller will need to confirm that you have the card in your possession, asking you to state the three digit security code on the back. Or, to offset any potential red flags, they may ask you to recite the full seven numbers. This includes the last four digits of your credit card, followed by the three digit security number. While you are giving them the same information, it can seem like the less obvious way of asking for your security code.

Once you tell the caller the numbers, he/she will ask if you have any other questions and end the call. Shortly after, a charge of $497.99 will be made to your account.

If you receive a phone call similar to this one, you should hang up immediately and check the credit card in question for any suspicious charges. It is very important to remember that VISA will NOT ask for this information. Since they issued the card to you, they already have everything on file.

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