Greg's Corner

Tagged: credit card Toggle Comment Threads | Keyboard Shortcuts

• 

  Geebo 9:00 am on December 18, 2024 Permalink | Reply
  Tags: charity scam ( 36 ), credit card, credit card fraud ( 3 ), debit cards ( 15 ), Scams ( 1,386 )   

  Watch for Tiny Charges on Your Bank Cards 

  

  By Greg Collier

  The holiday season is a time for generosity and joy, but it can also be a time when scammers take advantage of the season’s goodwill. If you spot a small, unexpected charitable donation on your credit card statement, it might not be a simple mistake, it could be a red flag.

  Small, unrecognized charges, especially to charitable organizations, can indicate that your credit or debit card has been compromised. When scammers obtain stolen card information, one of the first things they do is test the card. They accomplish this by making tiny transactions, often through charities. These small charges tend to fly under the radar, especially during the holidays when charitable giving surges. If the payment goes through successfully, it confirms to the scammers that the card is still valid and ready for larger, fraudulent purchases.

  The timing of this tactic is no coincidence. Around 20% of all charitable donations occur in December, making small, unfamiliar charges feel more plausible this time of year. A $2 or $5 donation might seem insignificant or even well-meaning, but that’s precisely what makes these transactions effective for scammers. People are less likely to dispute such small amounts, especially if they believe it’s an innocent oversight or a forgotten holiday contribution.

  To stay ahead of scammers, vigilance is key. Rather than waiting for your monthly statement, make it a habit to check your accounts online regularly. Weekly reviews can help you catch suspicious activity quickly before it escalates. Many card providers also offer transaction notifications via text or email, alerting you whenever a purchase is made. Enabling these alerts adds an extra layer of security, helping you identify unauthorized charges the moment they occur.

  If you do spot a charge you don’t recognize, act quickly. Contact your card provider right away to report the fraudulent activity. Taking immediate steps to lock or replace the card can stop scammers in their tracks and prevent further misuse.

  This season of giving should be one of joy and goodwill—not frustration. By staying proactive and mindful of your accounts, you can protect yourself from scammers who may try to take advantage of the holiday spirit. Don’t let a small charge turn into a big headache. Keep a watchful eye, and let your generosity this season be on your own terms.

   

  Leave a ReplyCancel reply
• 

  Geebo 8:00 am on September 25, 2024 Permalink | Reply
  Tags: card declined scam, credit card, debit cards ( 15 ), online shopping ( 34 ), Scams ( 1,386 )   

  How to Spot and Avoid The Card Declined Scam 

  

  By Greg Collier

  The Better Business Bureau (BBB) recently issued a warning about a new scam. Imagine you’re going through your usual online shopping routine, selecting items and preparing to check out. But when you attempt to finalize your purchase, you receive an alert saying your card was declined. Confused, but thinking it might be a glitch, you try a different card. To your dismay, the same message pops up again.

  What many don’t realize at that moment is that they’ve just fallen victim to a well-crafted scam. The website you’re shopping on isn’t legitimate. It’s designed to trick you into handing over your credit card information. Every time you try a new card, you’re simply feeding the scammers more details. Within minutes, unauthorized charges can appear on the accounts linked to the cards you’ve used, leaving you scrambling to contact your bank.

  The key to avoiding this situation is understanding that the scam works by exploiting urgency and confusion. When a card is declined unexpectedly, people naturally want to resolve the issue by trying another card. But that’s precisely what the scammers want. The more cards you enter, the more access they have to your financial information.

  The BBB advises that before entering any payment information, it’s important to verify the legitimacy of the site. A well-known retailer like Amazon will not typically ask you to re-enter stored payment details. Look for signs that the site is secure, such as the “https” in the URL, and avoid inputting sensitive data if the site doesn’t feel right.

  Scammers also use fake emails, texts, and ads that imitate legitimate businesses, so be cautious of unsolicited messages, especially those that lead to unusual payment pages. It’s always a good idea to directly visit a retailer’s website rather than following links from emails or ads, which can be manipulated to look genuine.

  Research the business before making a purchase, particularly if you’re shopping somewhere unfamiliar. Customer reviews and trusted sources like the BBB can provide insight into whether a site is legitimate. Remember, if a deal seems too good to be true, it probably is. Compare prices with other retailers to gauge the true value of the product you want to buy.

  Another crucial step in protecting yourself is to use a credit card for online purchases. Credit cards offer added protection against fraudulent charges, and you can dispute unauthorized transactions more easily than with debit cards. It’s also a good time to speak with your bank and credit card company about what measures they offer to protect your accounts, such as purchase limits or notifications for every transaction.

  The ‘card declined’ scam serves as a reminder that online shopping, though convenient, requires vigilance. By verifying website security, avoiding unsolicited messages, and staying informed about your card protections, you can avoid becoming the next victim of this frustrating and costly scheme.

   
• 

  Geebo 8:00 am on April 1, 2022 Permalink | Reply
  Tags: credit card, credit card fraud ( 3 ), customer service ( 50 ), customer support ( 23 ), Scams ( 1,386 )   

  Credit card scammers pose as fraud department 

  

  By Greg Collier

  Police departments in the Midwest are warning consumers about a scam involving their credit cards. Scammers are posing as the credit card company’s fraud department and calling their victims. The scammers tell their victims they’ve found an unusual purchase pattern on the victim’s account. For some reason, the scammers are saying the victims are being charged close to $500 for an anti-telemarketing device. We can’t tell if that’s ironic or if the scammers are being trolls at this point.

  Of course, the victim is going to say they did not make this purchase. However, to further entice the victim, the scammers say that they will be issuing a credit to the victim’s account. The victim is then asked for their three digit security number from the back of their card to confirm that they are the cardholder.

  The reason the scammers are asking for the security number and not the card number itself is because the scammers already have the card number. The security number is the only piece of information they need to start using the victim’s credit card for fraudulent purchases. The card numbers are often made available to scammers through no fault of the cardholder. The card numbers are often sold in the dark corners of the internet after a major data breach.

  If you receive one of these calls, do not give any personal information to the caller. Real credit card representatives will already have all of that information. Instead, hang up the call and check your credit card account for any fraudulent activity. Even if you don’t see any fraudulent activity on your card, call the card’s customer service department at the number listed on the back of your card, or from the card company’s website. If it turns out it was a scammer who called you, let your credit card company know, so they can be on the lookout for fraudulent activity.

   
• 

  Geebo 9:00 am on December 22, 2020 Permalink | Reply
  Tags: credit card, identity theft ( 108 ), Kansas ( 7 ), Scams ( 1,386 )   

  Credit card scammers take advantage of economic need 

  

  Credit cards have long been a subject of contention in our country. Banks and institutions have been criticized for alleged predatory practices when it comes to offering credit cards. Conversely, many consumers have racked up mountains of credit card debt that they’ll eventually go bankrupt from. Leave it to the scammers to take advantage of such a chaotic situation to make matters even worse for consumers.

  With so many people trying to scrape by during the pandemic, large numbers of consumers are using credit cards just to keep the lights running as long as possible. While they are living well beyond their means, most of these consumers have little to no choice in doing so.

  Enter the scammers who are promising economic relief. According to the Brown County Sheriff’s Office in Kansas, residents there have reported a slew of scam phone calls they’ve received about credit card relief. Scammers have been posing as credit card companies like VISA, Master Card, and Discover. They’ll claim that due to the pandemic they’re offering zero percent interest and a refund of all the interest that’s been paid this year.

  Not only are the scammers asking for your credit card numbers but they’re also asking for your banking information under the guise of direct depositing your ‘refund’. Of course, what they’ll really do is run up charges on your credit card and drain your bank account.

  If you receive one of these calls, it’s recommended that you hang up and contact your local law enforcement. If you’ve been a victim of this scam, you should contact police and also your credit card company using the number on the back of your card.

  One good way to avoid this scam is that if your credit card company called you, they would already know your credit card number. However, as a general rule, you should never give your financial information to a stranger over the phone. If your credit card company does call and you don’t feel secure talking to their representative, you can call them back at the number on the back of your card.

   
• 

  Geebo 8:00 am on August 19, 2020 Permalink | Reply
  Tags: bank scam ( 72 ), credit card, debit cards ( 15 ), florida ( 30 ), Scams ( 1,386 )   

  New scam targets seniors’ bank cards 

  

  Through no fault of their own, senior citizens are often the targets in scams. This can often be attributed to the fact that in their day, phone calls were largely important communications. Today, it seems almost unthinkable to answer a phone call from a number we don’t recognize, but back then, people would rush to the answer the phone without even knowing who was on the other line. This could be why two senior Florida residents were taken in a very brazen scam recently.

  In Boynton Beach, Florida, two senior residents had their bank cards physically stolen by someone claiming to be a bank representative. In the first instance, a 77-year-old woman received a call from someone claiming to be from Chase Bank telling the woman that one of her cards had been used in a fraudulent transaction. She was then told that a bank representative would come to her house to take her old cards and give her new ones. A woman in a navy blue dress showed up to her home and took her cards. As you can suspect, the cards given to the woman in the navy dress were used in various fraudulent transactions and $2500 was taken out of the woman’s checking account. A similar incident happened to an 89-year-old man in the same area except he was told that it was Wells Fargo who was calling.

  A question we get often is who falls for scams like these. Scammers like to cast as wide a net as possible in order to trick a handful of victims. It only takes a small number of victims to make these scams profitable for scammers. We would imagine this scam or scammers called an inordinate amount of people just to find these two victims. While you may recognize this as a scam, not everyone would. We discuss these scams so you could potentially help someone who may be a vulnerable target for scammers.

  If you or someone you know receives a call like this, it’s advised that you hang up and report the call to police. If your bank suspects fraudulent activity on your account, they will call you to ask if you made the purchase or transaction. If one of your cards had been used fraudulently, your bank would more than likely cancel your current one and either send you a new one in the mail or have you pick up a temporary card at your local branch. They would also instruct you to destroy your current card. They would not ask to reclaim your old card.

  Also, please keep in mind that even though this scam may not have happened in your area, it could show up near you at any time.

   
• 

  Geebo 8:00 am on March 20, 2020 Permalink | Reply
  Tags: credit card, cybersecurity ( 37 ), debit cards ( 15 ), e-skimming, online shopping ( 34 ), Scams ( 1,386 )   

  FBI warning about shopping scam 

  

  With many of us staying home these days while practicing social distancing, a lot of us will be ordering items online so we can avoid the crowds at stores. As can be expected, scammers are trying to take advantage of this situation too. The most concerning part is that this particular scam can affect legitimate retail sites and gives no indication that your information is at risk. This is why the FBI is warning consumers to keep an eye on their billing statements to make sure there are no unwarranted charges on your statements.

  According to the FBI, in an attack known as e-skimming, cybercriminals are injecting code into the websites of retailers. This code then allows the scammers to copy the information on your credit or debit card. With the way e-skimming works, neither the retailer not the customer will know that they’ve been scammed until it’s too late. The scammers will then sell the card information online to the highest bidder. Unfortunately, there is no way to detect if the retail site you’re using has been infected by the e-skimming code.

  [youtube https://www.youtube.com/watch?v=jb5aML–Mik%5D

  While these types of attacks are usually caught by retailers within a few days there are steps you can take to protect your information. One of the ways is only using a credit card online as credit cards have better fraud protection than most debit cards. Your bank may also be able to provide you with temporary one-time card numbers that you can use once and won’t work when copied. If your bank does not provide this service there are legitimate online platforms that can provide this service.

  While the odds of e-skimming happening to you are small, they’re not zero. It’s better to have the protection and not need it than needing it and not having it.

   
• 

  Geebo 9:00 am on January 7, 2020 Permalink | Reply
  Tags: credit card, debit cards ( 15 ), online shopping ( 34 ), Scams ( 1,386 )   

  Your old credit card numbers may still be online 

  

  When you use any one of many online retailers they may ask you if you want to save your payment information with them in case you use that vendor on a frequent basis. This can be quite convenient especially if it’s a vendor that you use all the time. However, with many things online, convenience can come at a cost of security. If you use the vendor long enough, you may have changed your credit or debit card information several times. Each of those card numbers could still be listed in your online account. Even if the numbers have expired they could still mean potential disaster for you.

  According to LifeHacker, there is a scam that relies on you leaving your old card numbers on your online accounts. For example, they talk about how if an Amazon account becomes compromised a bad actor may find old and expired card numbers linked to the account. Scammers will then try the expired numbers to see if they can still be used to make online purchases. Some card companies allow their users to make purchases even if the card is expired in case the user has just forgotten to update their information. The scammers know which cards and which vendors have more liberal policies when it comes to these purchases.

  In some cases, these purchases can show up on your doorstep. The scammers will normally keep an eye on your porch to try to grab the purchase but sometimes just knowing that the old card number works is enough. The best way to prevent this kind of fraud is to make sure that you delete your old card numbers from your online shopping accounts. It’s also recommended that you use only one card for all your online purchases as it makes it easier to keep track of any discrepancies. There are also services you can use that give you one-time use numbers that you can use for online purchases. It would mean you’d have to enter a new number with each purchase but sometimes it’s worth going the extra mile to keep your information secure.

   
• 

  Geebo 8:00 am on August 13, 2019 Permalink | Reply
  Tags: back to school, check scam ( 79 ), college ( 17 ), credit card, job scam ( 81 ), locksmith scam ( 2 ), Scams ( 1,386 ), scholarship scam, school ( 3 )   

  It’s the season for Back to School scams 

  

  With September approaching and some schools having already started their school year it should come as no surprise that scammers will even use the back to school season to try to target potential victims. The largest targets among these victims will more than likely be college students. Considering that many of these students will be away from home for the first time, they may not have the real-world experience to recognize a scam. Hopefully, with this blog post they can be better educated on which scams to look out for that could potentially harm their college experience.

  The Better Business Bureau of Florida recently put out a list of the most common scams for students to look out for and we can’t help but recognize a few of them. For example, the BBB warns of phony job scams. In these scams, the perpetrator will use a phony email address that spoofs that of the university. The student will be promised a phony job where they will be sent a check that will be more than they were promised. Of course, the check is phony but by the time the student sends back the money their bank will charge them the full amount of the bogus check. Another common scam that targets college students is the phony scholarship scam. Phony companies will guarantee students grants or scholarships in exchange for a fee. Most scholarships and grants can only come from the government or the school so avoid these promises at all costs.

  While the above scams are largely illegal there are some legal scams to look out for as well. Many credit card companies will offer their cards to incoming students, however, many of them have either high annual fees or interest rates. It’s very easy to obtain one of these cards then find yourself in a world of debt that you weren’t prepared for. Then there’s the locksmith scam where a student may lock themselves out of their housing or car and they’ll call the first locksmith that comes up in a web search. Those locksmiths may not be local and may charge you an exorbitant fee. It’s better to research for a local locksmith before you lose your keys so you can have a reputable one readily available should the need arise.

  For a more comprehensive list from the BBB about these scams and others you can click this link.

   
• 

  Geebo 9:02 am on April 21, 2017 Permalink | Reply
  Tags: coin ( 2 ), credit card, debit cards ( 15 ), plastc   

  Add Plastc’s name to the startup graveyard 

  

  Plastc promised its backers a credit card-like device that you could pre-load all your credit and debit cards to it, along with your various discount cards. They promised you would only need your card and it would make your life a utopia of convenience. Check out what the features of Plastc were intended to be in their own YouTube video.

  Wow. Doesn’t that look like an amazing device? It’s no wonder they were able to obtain $9 million in funds from pre-orders alone. This doesn’t even take into account they were entering into a market where there were already players who had shipped product. Coin was a company that promised a similar device and even shipped units. Coin left the market after their device couldn’t overcome technical problems that caused its users to have to continue to carry their cards with them, totally negating the purpose of it. Yesterday, Plastc announced that they were declaring bankruptcy, and it seems like they’re taking the $9 million and going home without ever delivering a single unit.

  So far Plastc has not given any reason why they’re declaring bankruptcy or what is going to happen to their backers’ money. What could have been a contributing factor to Plastc’s demise was the new chip and pin form of credit and debit cards. Instead of swiping, if your card has one of the new chips you have to insert the card into the machine. Could Plastc have failed to foresee the surprisingly quick adoption of this new technology? Could they even have changed the technology used in their devices to accommodate chip and pin?

  With technology developing at an ever-increasing rate, the time between being the next hot thing and the proverbial buggy whip manufacturer is becoming even shorter.