Nowadays, criminals use a number of different strategies to get credit card data from unexpected consumers, so they can commit credit fraud. One of the most widely used tactics is to convince people to give up their credit card info during a phone conversation.
Of course, these criminals won’t just call you up and ask for your card number – no one would fall for that. They fabricate different situations to convince the victim that they need to hand over some information to meet a certain need.
How do These Scams Work
So how do these scams even happen? Well, most people simply receive a call from a person claiming they represent the victim’s credit company. The fraud then asks them to confirm their personal information – such as their CC number, security code, or SS number.
After they are done with the call, the fraud uses this information to make charges on the victim’s account or even create a new account in their name. These scammers often get the victim to call them by leaving a message in an email on the answering machine.
In some cases, the frauds ask a person to sign them up for a certain service or product and then ask them for their credit card data to pay for it. In reality, they don’t sign the person for anything and just use their information to steal their money.
Of course, if know how anything about credit card processing, you also know that you should never give out your information to strangers. If you want to know more about credit card processing, just head over to Static Geek and read their article on the matter.
How to Avoid These Scams
Criminals are always working on new scams – as soon as the authorities figure out one scam, the criminals make some tweaks and continue with their targeting new victims. However, there are some guidelines you can follow to avoid almost any variation of the phone scam.
For starters, don’t give out your credit card information during phone calls, no matter how legitimate the person you’re talking to seems. If you think there’s a possibility you’re talking to an actual bank representative, just ask them if you can return their call.
If you’re talking to a scam-artist, they are likely to try to convince you to stay on the phone. The main rule is – you should only trust calls that you’ve initiated.
What to Do If You Get Scammed
Unfortunately, thousands of individuals across the globe fall victim to phone scams. If this happens to you at any point, you should call up your issuer as soon as possible. The company will be able to cancel your account and give you a new credit card.
This will prevent criminals from making withdraws from your account. You should also examine your account online on a regular basis, read your statements, and report any questionable activities you notice to your credit company.
*This is a collaborative post
*images taken from google