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Friday, April 1, 2011

VIsa & Mastercard scam alert

This is an alert I received internally at work, and thought it important to share with all of you.

"Visa / MasterCard FRAUD
Just a heads up for everyone regarding the latest in Visa fraud. Royal Bank
received this communication about the newest scam. This is happening in
southern Alberta right now and moving.

This one is pretty slick since they provide YOU with all the information,
except the one piece they want..

Note, the callers do not ask for your card number; they already have it.
This information is worth reading By understanding how the VISA & MasterCard
telephone Credit Card Scam works, you'll be better prepared to protect
yourself. One of our employees was called on Wednesday from 'VISA', and I was
called on Thursday from 'MasterCard'.

The scam works like this:
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

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 will ask you to read
the last 3 numbers to him. 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. But after we were called on
Wednesday, we called back. Within 20 minutes to ask a question. Are we were
glad we did! The REAL VISA Security Department told us it was a scam and in
the last 15 minutes a new purchase of $497.99 was charged to our card. We made
a real fraud report and closed the VISA account. VISA is reissuing us a new
number.. What the scammers want 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 told us that they will never ask for anything on the card as they
already know the information since they issued the card! If you give the
scammers 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.

What makes this more remarkable is that on Thursday, I got a call from a 'Jason
Richardson of MasterCard' with a word-for-word repeat of the VISA Scam. This
time I didn't let him finish. I hung up! We filed a police report, as
instructed by VISA. The police said they are taking several of these reports
daily! They also urged us to tell everybody we know that this scam is
happening. I dealt with a similar situation this morning, with the caller
telling me that $3,097 had been charged to my account for plane tickets to
Spain , and so on through the above routine..

It appears that this Is a very active scam, and evidently quite successful.
Pass this on to all your family and friends."

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