Credit Card Fraud

Credit Card Fraud

Be cautious of requests through the mail or over the phone regarding information about your credit card accounts. A number of individuals are committing “account takeover” fraud by obtaining information from cardholders.

Following are scenarios to be extra cautious of:

● You receive a phone call from someone posing as a bank or credit union employee. The caller offers you a special rate on your account or to switch your current credit card balance onto the new card. The caller then asks you for your credit card number.

● You receive a call from someone posing as a bank or credit union employee, who says there has been fraudulent activity on your account. The caller tells you your account will be blocked and asks you to put the “cancelled” card in your mailbox so that a bank or credit union employee can pick it up

● You receive a call from an individual who claims to work in the bank or credit union processor’s security department. The caller asks you for your credit card number in order to check the account activity for fraud.

● A caller posing as a detective contacts you and asks questions about your account.

● You receive a call from a company attempting to convince you that you need credit card insurance and they ask for your credit card number.

If you receive a phone call you feel is suspicious, tell the person you will call back. Hang up and return the call from the number on your records. If the person is not at that number, report the incident immediately to your financial institution.