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  • Geebo 9:00 am on December 18, 2024 Permalink | Reply
    Tags: , , , debit cards,   

    Watch for Tiny Charges on Your Bank Cards 

    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.

     

  • Geebo 9:00 am on December 5, 2024 Permalink | Reply
    Tags: , , chip cards, , debit cards,   

    Latest Bank Scam Targets Card Chips 

    Latest Bank Scam Targets Card Chips

    By Greg Collier

    Chip-enabled debit cards are designed to provide an extra layer of security for consumers, but scammers are now exploiting this technology in a startling new scheme that could drain your bank account. If you’re not careful, you could fall victim to this sophisticated fraud that combines phishing, spoofing, and clever social engineering.

    Here’s how the scam unfolds. It begins with an email or text message that appears to be from your bank, alerting you to an issue with your debit card. This message is quickly followed by a phone call, supposedly from your bank’s customer service team. Thanks to spoofing technology, the call looks legitimate, displaying the actual phone number of your bank.

    The caller claims there’s a problem with your card and instructs you to cut the card in half for security reasons, but keep the chip intact. They then explain that a bank representative or courier will come to your home to collect the chip for further investigation or replacement. When the ‘courier’ arrives, they use subtle but effective social engineering tactics to convince you to share your PIN. Once they have both the chip and your PIN, the scammers can easily install the chip into a new card and access your funds.

    This scam is particularly alarming because it leverages trust in your bank and creates a false sense of urgency. However, it’s critical to remember one key fact, no legitimate bank will ever send a courier to your home to address issues with your account. Any such request should be an immediate red flag.

    This isn’t the only scam involving so-called ‘couriers’. Fraudsters often use individuals posing as couriers to execute other schemes, such as fake lottery winnings or fraudulent purchases. In some cases, they may even recruit unwitting ride-share drivers to pick up and deliver items, adding another layer of confusion and detachment from the actual crime.

    To protect yourself, never share your PIN or other sensitive information with anyone, even if they appear to be from your bank. If you receive a suspicious call or message, hang up and contact your bank directly using the number on the back of your card. Additionally, never hand over your card chip or any other personal banking materials to someone claiming to be a representative of your bank.

    By recognizing the warning signs and refusing to engage with fraudulent requests, you can safeguard your finances and avoid becoming a victim of this alarming new scheme.

     

  • Geebo 8:00 am on September 25, 2024 Permalink | Reply
    Tags: card declined scam, , debit cards, ,   

    How to Spot and Avoid The Card Declined Scam 

    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 October 13, 2023 Permalink | Reply
    Tags: , , debit cards, ,   

    New bank scam has scammers collecting your debit card 

    New bank scam has scammers collecting your debit card

    By Greg Collier

    Bank impersonation scams are nothing new. The typical banking scam starts off with a text message asking if you have made a large purchase or transfer. The text message asks you to reply with either a yes or a no. Once the victim replies ‘no’, they’ll receive a phone call from the scammers, posing as their bank’s fraud department. The victim will be told there is fraudulent activity in their bank account, and they need to ‘move’ their money to protect it. From here, the scammers walk the victim through moving their money to a supposed protected account. However, this account belongs to the scammers, who disappear with the victim’s money.

    In that version of the scam, the scammers have the victim move their money electronically. Now, a new scam has developed, where the scammers are physically collecting their bounty. This new scam starts out the same way with the text message and the phone call. Instead of being told to move their money, victims are now being told that a courier will be by to pick up their compromised debit card. Some victims were even told to leave their debit cards in their mailbox for the courier to pick up. From there, the scammers take the victim’s money from nearby ATMs.

    Thankfully, the ways to protect yourself are still the same. If you receive a text message claiming to be from your bank, do not respond to it. Instead, call the bank directly to see if there is an actual issue with your account. If someone calls you claiming to be from your bank, politely end the conversation, and again, call your bank directly to ask about any issues. Lastly, don’t give any personal information to a caller claiming to be from the bank. Your bank should have all the information they need and shouldn’t be requesting information like your PIN or account number.

     

  • Geebo 8:59 am on November 17, 2021 Permalink | Reply
    Tags: , , debit cards, ,   

    New bank scam plaguing customers 

    New bank scam plaguing customers

    By Greg Collier

    As if bank customers didn’t have enough to worry about as it is, another scam with a familiar hook has started appearing. Much like the recent spate of Zelle scams, more scammers are calling their victims, posing as the victim’s bank. This particular scam is a little more disheartening because the scammers already have a lot of the victim’s information.

    Again, like many bank scams that have happened recently, the scam starts with a call to the victim from a scammer pretending to be from the customer service department of the victim’s bank. The victim is asked if their debit card has been used out of state. When the victim responds that they haven’t been out of state, they’re then urged to cancel their card due to fraudulent activity. The scammers already have the last 4 digits of the victim’s debit card. As the bank, the scammers then ask for the victim’s PIN, so they can ‘confirm’ the card’s cancellation.

    Once the victim gives the scammers their PIN, the scammers are off to the races, as they’ve already gleaned the victim’s debit card number from any number of data breaches. The only thing the scammers needed was the PIN, and from there they can drain the bank account the debit card is attached to. This scam has already been reported in Kentucky and could be on the way to spreading nationwide.

    If you ever receive a call from your bank about fraudulent activity, politely hang up and call them back at the customer service number on the back of your debit card or on the bank’s website. You can also visit your bank’s local branch to resolve any issues. Most importantly, never give your PIN to anyone over the phone unless you’re absolutely certain you’re speaking with your bank.

     

  • Geebo 8:00 am on May 17, 2021 Permalink | Reply
    Tags: , debit cards, , ,   

    Counterfeit scam targets businesses 

    Counterfeit scam targets businesses

    By Greg Collier

    No businesses were more hard hit by the pandemic than restaurants. Many restaurants struggled to stay open during the pandemic. However, due to the nature of how COVID-19 was spread along with government lockdowns, many restaurants closed their doors for good. Even without COVID-19, the restaurant business is a very precarious one. There’s an old joke that says the best way to make a million in the restaurant business is to start out with two million. Those that have survived the pandemic should be commended instead, some are being targeted by scammers posing as police.

    Scammers who pose as police is nothing new. The most common variation of the police impersonation scam is when scammers will call a victim and tell them that the victim has a warrant out for their arrest. In most cases, the scammer will say that the victim missed jury duty. The scammer will threaten the victim with arrest if they don’t pay a fine over the phone either through gift cards or prepaid debit cards.

    In Panama City, Florida at least one restaurant has fallen to a new twist on the police impersonation scam. The scammer called the restaurant claiming to be from the Panama City police. The restaurant was told that they had deposited counterfeit money into their bank account. Considering how much cash restaurants can end up dealing with, this could be a real possibility. To replace the supposed counterfeit money the restaurant was told to replace the counterfeit money with a prepaid debit card. In this instance, it was in the amount of $1000. Panama City police have said that this scam has been targeting other local small businesses as well.

    There are a few keys to this scam besides the obvious one of paying with a prepaid debit card. The first is that most business that deal in cash should already have safeguards in place to detect counterfeit bills, such as the marker that can detect counterfeit bills. Also, if you were to accidentally deposit counterfeit cash into your business’ bank account you would be charged by your bank and not the local police. You may get a visit from the Secret Service instead.

    If you run a small business, you may want to warn your employees of any calls from someone claiming to be the police demanding payment and let them know that those calls are probably scams.

     

  • Geebo 8:00 am on August 28, 2020 Permalink | Reply
    Tags: debit cards, , , ,   

    New twist on unemployment debit card scam 

    New twist on unemployment debit card scam

    As you may know, every state in the country has been assailed by overseas scammers looking to cash in on unemployment benefits. Due to the record amount of Americans who are currently unemployed, the scammers are overwhelming state unemployment systems by applying for benefits in other people’s names in hopes of making off with that money. To that extent, scammers will also apply for benefits in the names of people who are currently employed. The scam is far from perfect and many people have caught the scam being perpetrated on them before the scammers could get the money. Usually, the scammers would keep their scam within one state at a time. That now seems to be changing.

    A report out of the State of Washington says that a couple there received two unemployment debit cards in the mail. Not only are the couple employed but the cards were issued from the state of Colorado. Neither of them had ever worked or lived in Colorado. The belief here is that since the cards are from out of state, a scammer could call them pretending to be from that state’s unemployment department and then ask for the cards back. The scammer could instruct them to send the cards to an address where the scammers could claim the cards and use the benefits themselves.

    However, some states are already fighting back against the scammers. As we mentioned previously, West Virginia has a system in place to try to prevent fraud. Now, the Colorado cards that were sent to the Washington couple had instructions to follow if they received the cards but did not apply for unemployment.

    If you receive a card like this and you have not filed for unemployment or they’re from a state that you never lived or worked, try contacting the issuing bank to see what they would like to have you do.

     

  • Geebo 8:00 am on August 19, 2020 Permalink | Reply
    Tags: , , debit cards, ,   

    New scam targets seniors’ bank cards 

    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 8:13 am on May 27, 2020 Permalink | Reply
    Tags: debit cards, , eip card, , ,   

    Stimulus debit cards delivered in unmarked envelopes 

    Stimulus debit cards delivered in unmarked envelopes

    Last week, we posted about the stimulus debit cards that some taxpayers will receive instead of paper checks. To summarize, those taxpayers who didn’t provide the IRS with their banking information might receive one of these cards known as EIP cards instead of a paper check.

    Some taxpayers are already starting to receive their EIP cards, however, some have been suspicious of the cards since they’re being delivered in unmarked envelopes. These cards are, in fact, the legitimate EIP cards and can be used mostly like a normal debit card. So if you’re expecting your stimulus payment in the mail, don’t throw out any unmarked envelopes until you receive your card.

    The envelope will say it’s been sent by Money Network Cardholder Services while the card itself will have a VISA logo along with the name MetaBank which is the issuing bank.

    In other consumer financial news, the state of Colorado is warning residents about a scam that is targeting the unemployed. Scammers are posing as employees of the Colorado Department of Labor and Employment or the Colorado Division of Unemployment Insurance. They’ll contact their victims by phone or email asking for personal information such as your Social Security number, your bank account numbers, and bank account passwords. Please keep in mind that while this is being reported in Colorado, this scam could come to any state.

    If you’ve recently applied for unemployment in your state, the unemployment office may contact you, however, they will not ask for any personal information. Most offices will already have the information they need from when you initially applied for benefits.

     

  • Geebo 8:00 am on May 21, 2020 Permalink | Reply
    Tags: debit cards, ,   

    If you were expecting a paper stimulus check you may not get one 

    If you were expecting to receive your stimulus payment by paper check, you may not be receiving one. Instead, the Treasury Department has announced that they’ll be sending some four million payments on prepaid debit cards. The Treasury Department claims that it will be quicker to send out the debit cards than it would be to issue paper checks.

    The majority of people who will be receiving the debit cards are those who did not provide the IRS with direct deposit information and had their tax returns processed by the IRS centers in Austin, Texas, or Andover, Massachusetts. The Andover service center processed returns for much of New England while the Austin service center processed returns for taxpayers in Florida, Louisiana, Mississippi, Oklahoma, and Texas. The Austin service center also covers those who use a military mailing address like an APO or FPO.

    There are very few restrictions on the card and consumers will be able to use it like a normal debit card. There are no fees for purchases or withdrawing money as long as the money is withdrawn from an in-network ATM. If your card were to be lost or stolen it would cost around $25 to have it replaced.

    While the debit card will be more convenient for most people rather than a paper check, there are still some safeguards you should take after receiving yours. No matter how ecstatic you may be about receiving your payment, do not post a picture of the card on social media. It will take bad actors no time at all to drain your funds off of the card with just the card number. Also keep in mind that if someone claims to be from the government calling about the debit card, they’re almost assuredly a scammer.

    Lastly, for individuals with privacy concerns, the Treasury Department says that the government cannot track your spending habits from the card.

     

    • Andrenikki 2:47 pm on May 24, 2020 Permalink

      Wassup wit The Stimulus Check

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