There is a new, sophisticated scam targeting Visa and MasterCard holders. Unlike other fraud attempts, this one is particularly deceptive because the caller already has your card number and other details.
How the Scam Works:
A caller claims to be from Visa or MasterCard’s Fraud Department.
They provide a badge number and state that your card has been flagged for suspicious activity (e.g., a charge of $497.99 for an “Anti-Telemarketing Device”).
When you confirm that you did not make the purchase, they say they will issue a refund.
They reassure you by providing your correct address and issuing a “fraud report” number.
They instruct you to call the official customer service number on the back of your card if you have concerns—making the call seem legitimate.
They ask you to verify that you have the card in your possession.
They request the three-digit security code (CVV) on the back of your card.
Once you provide this, they immediately use it to make fraudulent purchases.
Key Warnings:
✅ Visa and MasterCard will NEVER call and ask for your CVV.
✅ Never provide your CVV, PIN, or any sensitive information over the phone.
✅ If you receive a call like this, hang up and call your bank directly.
✅ Monitor your statements for any unauthorized charges.
Scammers continue to refine their tactics, so stay informed and vigilant. If you need guidance on protecting yourself from financial fraud, give me a call.
