Unfortunately, scammers are always coming up with new, inventive ways to get their hands on other people’s money. Credit cards present a dangerous opportunity for identity thieves to swindle cardholders out of whatever their credit limits will allow. There are a few scams that are growing in popularity that everyone needs to be aware of.
The bank calls, but who is it really?
One of the most popular methods identity thieves utilize to scam people out of money is calling them pretending to be someone else. The most common entity the scammers claim to represent is obviously the bank which issued the person’s credit card. Typically, the callers will prompt cardholders to provide personal information about the card and themselves, even going as far as asking for social security numbers in some cases. The reasons given for these calls vary, but most often the caller claims to be notifying you of credit card fraud.
In the event that someone receives a call from a bank or any other institution asking for personal information like the social security number, the best option is to call the other party directly. No matter what the caller says, no harm will come to anyone from stating that he is hanging up and calling the card issuer directly. These callers will rely on scare tactics to get the intended victim’s most personal information, but it is important not to give in.
Anytime people use a credit card, the risk of having card information stolen is there. In fact, stealing one’s account information is quite simple through the use of skimming machines. These machines quickly record card information, allowing for replicas to be made for personal use. Skimming could be done by a waiter at a restaurant or even by a scammer who has installed the device onto a gas pump. Using cash alleviates this threat, but for situations that call for the use of a card, it is best to swipe it as credit (even debit cards) and always closely monitor account activity.
Other Methods of Contact
Scammers are typically masters of technology, so it makes sense that contact would not be limited to phone calls. While getting a cardholder’s personal information is easier to obtain through a phone call, these thieves often utilize email as well. Anyone who receives an email from a financial institution prompting the supply of highly personal information should be wary. These emails usually address fraud alert, attractive debt consolidation programs, or instructions for transitioning to the new chip card system. In this case, the target should avoid clicking on anything in the email and immediately call the card issuer.
It is difficult to stay on top of the latest scams being utilized by identity thieves, but doing so is important for financial security. Righting the wrongs done by scammers can be difficult, leading many into financial peril. If you are suffering from issues related to debt, a call to the Boynton Beach bankruptcy attorneys at Kelley & Fulton could certainly be of benefit to you. Contact the experts in debt defense today to have your most pressing questions answered.