Phone Call Scam: Posing as Credit Card Account Overdraft Alert
Overview
Scammers are actively making phone calls to individuals, pretending to be representatives from their credit card company. They claim that the victim’s account has been overdrawn and immediate action is required to resolve the issue.
How the Scam Works
- The scammer calls the victim and identifies themselves as a representative from the victim’s credit card company.
- They state that the victim’s account has been overdrawn and that they must take immediate action to rectify the situation.
- The scammer may provide a fake account number or transaction details to appear legitimate.
- They instruct the victim to provide personal and financial information, such as their credit card number, PIN, or social security number.
- Once the victim provides this information, the scammer uses it to access their account and commit fraud.
Red Flags
- Urgent requests for personal information: Legitimate companies will not ask for sensitive information over the phone.
- Sense of urgency: Scammers create a sense of panic to pressure the victim into making quick decisions.
- Unfamiliar phone number: Calls from legitimate credit card companies typically come from known numbers.
- Poor grammar and syntax: Scammers may use automated messages or scripts that contain errors.
- Request for payment outside of official channels: Credit card companies will never ask for payments to be made through third-party services or gift cards.
What to Do if You Receive a Suspicious Call
- Hang up immediately: Do not engage with the caller or provide any information.
- Contact your credit card company: Report the incident to your credit card company using their official phone number.
- Monitor your credit reports: Regularly check your credit reports for any unauthorized activity.
- Report the scam: File a report with the Federal Trade Commission (FTC) at ReportFraud.ftc.gov.
Prevention Tips
- Be vigilant: Never provide personal or financial information over the phone unless you initiated the call.
- Use strong passwords: Use unique and complex passwords for all financial accounts.
- Shred financial documents: Shred old credit card statements and other financial documents to prevent identity theft.
- Educate yourself: Stay informed about common scams and how to protect yourself.
- Trust your instincts: If something feels suspicious, it probably is. Trust your instincts and report any suspicious activity.
