Public safety officials are warning residents of a new Visa fraud which has been reported across the country.
On-line and phone scammers bilked victims of $12.5 billion last year, according to the latest data released last week by the Federal Trade Commission.
The total losses reported were at an all-time high and were 25 percent more than reported losses in 2023, officials said.
In this latest telephone scheme, officers noted, the callers do not ask for victims’ card numbers, because they already have that information.
The person calling identifies themselves as calling from the Security and Fraud Department at VISA. They even provide a badge number before telling the victim that their 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?” or some purchase example. When the victim denies making the purchase, the caller usually replies, “‘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 the victim’s address). Is that correct?”
The victim usually agrees to the address and 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 the victim a six-digit number.
The most important and crucial segment of the scam comes next when the caller claims to verify that his mark has the card in their possession.
The caller will say there are seven numbers and the first four are part of the account number “and the last three are the security numbers that verify you are the possessor of the card.”
That security code is the real purpose of the call. The real Visa Security Department warns that this is a scam and while the victims are asked for very little information, what they do provide is crucial to the fraud the caller will perpetrate.
“Once you provide them with the three-digit security code, a new purchase of $497.99 (or whatever the caller cited) is charged to your account.
What the Scammer wants is the three-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,” VISA officials warned.
“Real VISA representatives will never ask for anything on the card, as they already know the information, since they issued the card,” officials cautioned.
Anyone receiving a call asking for personal or banking information should immediately hang up and call the number on the back of the credit card to verify the activity on their account, police said.
The crooks are either out to get your money on a gift card or via cryptocurrency. Or they want to get your Social Security number or other personal information, officials warned.
No government agency is going to call you out of the blue and demand you pay any fine. And they’re not asking that you send crypto or buy gift cards, officials warned.
