Credit card scammers ask you for 3-digit security code

It is not a new thing to read about a credit card scams, but here’s a new twist on them. In this case, scammers are already having your credit card information, but need the card’s security code, which is the three-digit number that is located on the back of your credit card a vendor uses to ensure the card’s actually is in your possession.

SCAMS

How this Scam Works?

I tell you here how the scam works. You will receive a call by someone who claims to be from your credit card company’s security and fraud department. The caller would already be having your credit card number by some form of identity theft. He or she may also provide you a badge number and tells you that your card has been flagged for unusual purchasing activity.

The your address will be recited by the caller and asks you to verify it so a statement can be sent showing your account was credited.

He or she also states that a fraud investigation will be started, and tells you that if you have questions then you may call the 800 number on the back of your card and will also gives you a six-digit control number to refer to.

Finally, the scammer will need to verify that the credit card is in your possession and hasn’t been stolen by anyone and so he or she asks you to recite the three-digit security number that is there on the back. Once you have read the number, the caller thanks you, asks if there’s anything else he or she can do and hangs up. Sounds harmless, right?

Unfortunately, no it is not and the scammer now has your verified address and credit card’s security code.

How to get protected against such scams?

It is advised by the Better Business Bureau that the best protection against schemes like this is to always verify the legitimacy of requests for personal information. While you may be asked to confirm your identity, your credit card company will never ask you to verify any such information it has that information on file, disclose security codes or prove the card is in your possession.

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