FBI warns of debit card phone scam
September 7, 2010 FBI, SPRINGFIELD DIVISION
DEBIT CARD PHONE SCAM
A computer automated phone scam has impacted Central and Southern Illinois Bank customers. Debit card customers are receiving automated telephone calls stating their debit card account has been breached, and then told they will need to “reset” their information in order to use their account.
The “scam” works this way – The telephone rings, and the caller ID shows “not available” or “private number”. An automated recording states “your debit card account has been breached. You need to reset your account by following these steps”. The automated recording states to press “1” to begin.
By pressing “1” a computer system has been activated. The customer is then told to enter the sixteen digit card number, and the expiration date. The automated voice then asks for the three digit Customer Verification Value Code (CVV Code) located on the back of the card, followed by the four digit pin number. The perpetrators of the scam now have all the information they need to access the victim customer’s debit card account.
It is important to remember not to give out personal information over the phone including passwords or pin numbers. Banks do not use an automated system to ask for this type of customer information regarding their accounts. Banks already have customer account information, and therefore do not need to ask for their information over the phone.
If you believe you have been contacted or unknowingly participated in this scam, you are urged to contact your financial institution immediately.
“Don’t Change Interchange” by The Disclosures
Protect your credit union’s debit card! Recently, the US Senate approved the Financial Regulatory Reform Bill which included a provision that would mandate price controls on the interchange fees paid by merchants for accepting debit cards. This bill has unintended consequences for credit union members and every consumer with a debit card in his or her wallet.
Contact your federal legislators ASAP and ask them to oppose the Senate-passed interchange provision.
TAKE ACTION:
Send a letter to congress:
http://capwiz.com/cuna/home/
Call Legislators:
1-877-223-5275
Please post, watch, and share this video anywhere you see fit to help spread the word on this important issue.
Song performed by The Disclosures with apologies to George Michael. The Disclosures are Chad Helminak (right) and Christopher Morris (left).
The views and opinions expressed in this video are solely those of The Disclosures.
Loading ...
Good Financial Cents- YOUR Attitude IS Everything – Don’t Quit On Yourself February 6, 2012“If you say you can’t, then you absolutely won’t”. -My dad My dad would always tell me that whenever I gave up on anything. “Dad, I just can’t do it!”, I would often say. It never failed that he would respond with some variation of the quote above. The first several times I heard it […]Jeff Rose
- Ally Bank Review – Are They The Best Online Bank? February 3, 2012Who enjoys making 0.15% on your savings account? Raise your hand….. Didn’t think so. Interest rates have been low for quite some time (too long for many), and finding the highest interest rate for your savings accounts is a must. One viable option is the online bank Ally. If you’re looking for a competitive rate […]Jeff Rose
- Like This: How to Buy Facebook IPO Shares February 2, 2012The million $5 billion dollar question of the week, “How do I buy shares of Facebook’s IPO?” I’ve literally have had a dozen people ask me how they can get in on the action. Ironically, none of the questions came from Facebook (random thought). For those that want to know how to buy Facebook IPO, […]Jeff Rose
- Get a Free Roundtrip Flight on Southwest Airlines with a Chase Southwest Airlines Rapid Rewards Credit Card January 31, 2012Wouldn’t it be nice to have someone else pay for the flight to your next vacation destination? (And even better: what if that free flight was on the best airline in the country?) You’ll get just that if you open up a Southwest Airlines Rapid Rewards® Plus Credit Card. It might seem to be too […]Kevin Mulligan
- The Gift That Keeps On Giving – Gifting Limits for 2012 January 31, 2012The holiday season is already behind us but that doesn’t mean you still can’t give the perfect gift. In the financial world, the term gift has a whole new meaning as it pertains to estate planning. Many investors look to “gift” a portion of their estate to prevent having to pay a hefty estate tax […]Jeff Rose
