Latest Phone Scam Hits Hard with “Card Fraud”
Know how to protect yourself and your account
A phone scam is increasingly being reported around the country and locally, targeting your debit card information. And when the scammers are successful at getting the details they’re digging for, they can use it to make large withdrawals from your checking account.
How the phone call starts
The gist is this—you get a phone call with the caller pretending to be with your bank or credit union’s fraud department. The caller is likely using a spoofed phone number so the incoming number looks legitimate. The caller explains that possible fraudulent activity occurred on your card, and they provide you with fake transaction details so you believe your card was compromised. Under the guise of verifying your identity and helping you get a new card, the caller will attempt to gain your personal information and private banking information.
Identify the major red flags of a scam
It’s not always easy to identify a phone call as a scam from the start—successful scammers will use many tools to appear legitimate. But when it comes time to gain the information that they need from you, there are some common major warning signs.
Red Flags to STOP the Call and Hang Up:
- The caller asks for your card PIN.
Never provide your PIN to anyone—verbally or with your phone keypad. There is no valid reason that a caller will ever request your card PIN.
- The caller asks you to provide your online banking ID or password.
- The caller asks you to provide your card or CVV number.
Approach incoming calls with caution
Even if you think you will never fall for a scam, always be cautious with information that you provide to an incoming caller. One simple step you can take to protect yourself is to hang up and call the business back at a number you know and trust—such as the phone number provided on the back of your debit or credit card or on your account statement. Do not redial from the incoming call or use any other number provided by the caller.
Contact us with any questions or concerns
If you have any questions about this information, we encourage you to speak with a Lanco FCU representative to learn more. If you suspect that you may have given information to a possible scammer, it is important to contact us so we can take measures to help you protect your information and account.
- April 12, 2019— Slick bank phone scam tricks people with fake number, Fox 4 News
- December 19, 2018— How to Recognize a Credit Card Telephone to Scam, The Balance
- September 21, 2018— Bank ‘fraud dept’ calls about your card being used somewhere, Medium
- August 16, 2018— Fraud Alert: Fake Caller ID Scams, Lanco Federal Credit Union