Five Sneaky Credit Card Scams

#1 Phone Fraud

The phone rings, a scammer poses as your bank's fraud department. They may have your entire card number stolen from another source.

They ask about a charge made and you deny the charge, but in order for the charge to be removed, they need your 3-4 digits CVV number off the front or back of the card.

A variation may be they only have the last 4 digits found on a receipt or statement you threw away. They can also use the same ruse to get the full 16 digits from you.

#2 Clever Clerk

You hand your card to a sales clerk, waiter or waitress and they have a card reading wedge device that looks like this.

The device may be wrapped around a band on their ankle. They bend over and make it look like they are fixing a sock, once they swipe the card through, they can make charges on your card.

#3 The Loop

You’re at an ATM that isn’t cooperating. Some nice guy injects himself into the scene to help you. During the process he watches you enter your pin.

After another attempt the ATM eats your card. After you leave all upset, he pulls the card from the ATMs card slot using a loop of VHS tape he jammed inside the machine.

#4 Risky Retailer

When searching for something on the web you come across a website with a great deal.

In the process of ordering they inform you a discount is available along with a free trial of another product. Thinking you just made out on the deal you take the bait.

Next thing you know your card is charged every month and the company makes it very difficult to cancel the charges.

#5 Cell Snap

While buying something at a store you swipe your card through the point of sale terminal.

If you are using a debit card you also need to punch your PIN into the keypad. The guy one or two people behind you filmed the entire transaction including your PIN on his mobile phone.

Robert Siciliano personal security expert to Home Security Source discussing Home Invasions on Montel Williams. Disclosures

Note: the views expressed in this post are the opinions of the Infosec Island member that posted this content. Infosec Island is not responsible for the content or messaging of this post. Infosec Island reserves the right to remove or edit the content of all material submitted by our members.

View the original article here

Five Sneaky Credit Card Scams

#1 Phone Fraud

The phone rings, a scammer poses as your bank's fraud department. They may have your entire card number stolen from another source.

They ask about a charge made and you deny the charge, but in order for the charge to be removed, they need your 3-4 digits CVV number off the front or back of the card.

A variation may be they only have the last 4 digits found on a receipt or statement you threw away. They can also use the same ruse to get the full 16 digits from you.

#2 Clever Clerk

You hand your card to a sales clerk, waiter or waitress and they have a card reading wedge device that looks like this.

The device may be wrapped around a band on their ankle. They bend over and make it look like they are fixing a sock, once they swipe the card through, they can make charges on your card.

#3 The Loop

You’re at an ATM that isn’t cooperating. Some nice guy injects himself into the scene to help you. During the process he watches you enter your pin.

After another attempt the ATM eats your card. After you leave all upset, he pulls the card from the ATMs card slot using a loop of VHS tape he jammed inside the machine.

#4 Risky Retailer

When searching for something on the web you come across a website with a great deal.

In the process of ordering they inform you a discount is available along with a free trial of another product. Thinking you just made out on the deal you take the bait.

Next thing you know your card is charged every month and the company makes it very difficult to cancel the charges.

#5 Cell Snap

While buying something at a store you swipe your card through the point of sale terminal.

If you are using a debit card you also need to punch your PIN into the keypad. The guy one or two people behind you filmed the entire transaction including your PIN on his mobile phone.

Robert Siciliano personal security expert to Home Security Source discussing Home Invasions on Montel Williams. Disclosures

Note: the views expressed in this post are the opinions of the Infosec Island member that posted this content. Infosec Island is not responsible for the content or messaging of this post. Infosec Island reserves the right to remove or edit the content of all material submitted by our members.

View the original article here

Federal Reserve Releases Report on College Credit Card Agreements

Comments (0)

The U.S. Federal Reserve Board has released a report to congress on College Credit Card Agreements that contains payment and account information about more than 1,000 agreements between credit card issuers and institutions of higher education or affiliated organizations that provide for the issuance of credit cards to students. The Board also launched an online database with additional information such as the terms of these agreements.

View the original article here

Federal Reserve Releases Report on College Credit Card Agreements

Comments (0)

The U.S. Federal Reserve Board has released a report to congress on College Credit Card Agreements that contains payment and account information about more than 1,000 agreements between credit card issuers and institutions of higher education or affiliated organizations that provide for the issuance of credit cards to students. The Board also launched an online database with additional information such as the terms of these agreements.

View the original article here

Federal Reserve Releases Report on College Credit Card Agreements

Comments (0)

The U.S. Federal Reserve Board has released a report to congress on College Credit Card Agreements that contains payment and account information about more than 1,000 agreements between credit card issuers and institutions of higher education or affiliated organizations that provide for the issuance of credit cards to students. The Board also launched an online database with additional information such as the terms of these agreements.

View the original article here

Credit Card Offers Are Needlessly Confusing; New Law Brings Some Improvement

Tags » Credit Cards  » Comments (0)

A new study by the Center for Responsible Lending (CRL) finds that "credit card offers have grown increasingly complicated since 2000, when Congress required issuers to start disclosing pricing information on credit card offers. But instead of providing clarity to consumers about the true cost of their credit cards, issuers responded to this mandate by adding a confusing array of numbers to their offers."

View the original article here