Credit Card Security Code Fraud

April 10, 2015

The scammer calls and says they have flagged your credit card for suspicious activity. They already have a lot of your information – credit card number, expiration date, name, address and phone number.  The caller makes up a transaction and asks you if you authorized those charges.  You let the caller know that you do not. The scammer then tells you that he will open an investigation and gives you a reference number and tells you to call the number on your credit card if you have any question.  Seem legit so far, right? Scammer then lets you know that he needs to verify that you are in possession of the card and needs you so give him the security code on the back of your card. That’s the clincher – the security code!!

If you receive a call of this nature:

  • Don’t give the caller any information about your account number, even if he already has details on the account.
  • Hang up the phone!! Call the customer service number on the back of your credit card and report fraud to the security department and have them check for any unauthorized charges.
  • Report any suspicious calls to the FTC and your local BBB.
  • Tell your friends and family about the call. The best way to get information out is by word of mouth.

Scammers will try just about anything to get the information that they are looking for. DON’T GIVE OUT PERSONAL INFORMATION IF YOU DID NOT INITIATE THE CALL.