In this era of technology, Credit Cards are used almost everywhere. People use their credit cards to get easy money access from any part of the country through ATM machines. With the increase in usage of credit cards, scamming has also become popular.
Credit card scammers who make thousands of dollars daily always find new ways of scamming or putting old scams on their credit cards. Credit card data is protected against frauds and unauthorized charges on your credit card account. Check out some credit card scams.
How does the Credit Card Scam work?
You receive a call from someone that says it’s the fraud department of your credit card issuer. You say that suspicious activity has taken place on your account and you need the information to check whether your account has been compromised. Scammers may have some data already names, addresses or account numbers and use this to convince you subtly that they are your issuer. You ask for further information, such as the security code on the back of your credit card, that you may use for fraud.
Top 5 Credit Card Scams – Yahoo 2019
Let’s have a look at The top 5 Trending Credit Card Scams of 2019!
1. The Jury Duty Scam
This scam uses frightening tactics to stop victims from being given credit cards and other personal details. We’ve always tried to identify new “how to get out of the jury’s duty,” but sometimes we missed the message. This is where the jury is playing the scam. The con artist in this scam calls the victim as the local court representative. This scam uses fearful tactics to prevent people from obtaining credit cards and other data. We always try to find new “how to get out of the jury’s duty,” but we missed the notification sometimes. This is where the jury’s duties are played.
The con artist calls the victim as the representative of the local court in this scam. They tell the victim that in their name a warrant for arrest was issued because they did not appear for scheduled jury duty. The victim answers that the jury has never given them an advisory.
The scammer then says that some information needs to be checked to make the matter clear. The scammer shall further request personal data including the victim’s address, social security number, date of birth and number of credit cards. The unknown victim, who is fracked and concerned at the warrant, meets and provides the information and is subject to identity theft and credit card fraud.
2. The Video Game Scam
Because every fortnite person’s family member or player knows very well, the old adage is true: it’s all fun and games until someone loses control of his online account. He generated more than $1 M of in-app purchases in his first three days at the app store; some consider themselves a poster boy for successful in-app purchases. Buta such online environments can be a hotbed for credit card fraud through account takeovers.
Scam artists get hold of a player’s user ID and password in these situations, often using techniques such as malware programs or phishing. Scammers can then use these account details to make in-app purchases, sell virtual goods purchased or purchased in the game, or gain complete access to credit card details and rip off their targets further.
3. Phone Call Scam
The victim receives a call from a person in this marketing scam who claims to be a representative of his credit card business and is able to significantly reduce interest rates and the amount of debt paid. The scammer tells the victim that the proposed credit card debt reduction will reduce their debt by thousands to five times faster. The victim is subject to a heavy initial fee. The most vulnerable can be exploited by artists who fight or have bad credit.
Furthermore, in this scam, A person receives a call from a person claiming to be a bank employee. The person notifies the recipient of fraudulent activity using his or her credit card. At this point, the person claiming the bank is hanging his phone. However, instead of actually hanging the phone, the scammer plays a dial tone. This system gives a sense of panic to the recipient so he can call back his bank. The victim dials the credit card number without realizing that the call is still connected. Then another scammer comes back and fakes the credit card company.
4. Ghost Terminals
Ghost terminals’ are fake terminals established by fraudulent groups, not linked to payment networks. They are usually used to skim details of your credit card. APN reports that the prevalence of ghost terminals has increased by 13 percent and is often virtually impossible to distinguish between them and the real thing. The APN suggests that the criminals work with sophisticated equipment which is often difficult to track as part of unionized fraud units around the globe.
5. Skimming the Credit Card
Recent titles for this “old school” trick have been made. The “skimmers” have now become skimming machines of high technology. Skimmers have recently been discovered in gas pumps and ATMs across the country. These skimmers use Bluetooth to collect and transfer credit card data to scammers, which can then replicate the cards and go shopping. Other traditional skimming tricks that are less technological include waitress and retailers skimming their credit card and making small, often missed purchases.
In conclusion, your account should be looked at every month and your credit card company should immediately report discrepancies. If you report fraudulent purchases in good time, you will never be liable. And make sure that you extend any ATM you visit to ensure that it does not go wrong! Here are some other great tips to avoid an ATM skimmer system.
Call your credit card company to immediately suspend your account and issue a new card if you think you’re a victim of credit card fraud. Also, you should call the credit offices and hold on your credit reports.