New credit card scam

February 2004 News

This one is clever.

You receive a telephone call from someone purporting to be from your credit card company. They claim to be from something like the security and fraud department, and question you about a fake purchase for some amount close to [say] $500.

When you say that the purchase was not yours, they tell you that they are tracking the fraudsters and that you will receive a credit. They tell you that the fraudsters are making fake purchases on cards for amounts just under $500, and that they are on the case.

They know your account number. They know your name and address. They continue to spin the story, and eventually get you to reveal the three extra numbers on the back of your card.

That is all they need. They then start charging your card for amounts just under $500. When you get your bill, you are unlikely to call the credit card company because you already know that they are on the case and that you will receive a credit.

It is a really clever social engineering attack. They have to hit a lot of cards fast and then disappear, because otherwise they can be tracked, but I bet they have made a lot of money so far.

Source: Bruce Schneier, Counterpane Internet Security.

Share this article:
Share via emailShare via LinkedInPrint this page

Further reading:

Quantum secret sharing
Issue 6 2020 , News
Wits researchers have demonstrated a new quantum approach for sharing a secret amongst many parties, setting a new record for the highest dimensions and parties to date.

Three cash-in-transit heists in half an hour
Issue 6 2020, Fidelity Security Group , News
Over the past six weeks the cash-in-transit industry has experienced a spike in the number of heists across the country.

Programme to assist smaller MSSPs
Issue 6 2020 , News
Networks Unlimited launches new MSSP partnership with SentinelOne to make endpoint defence more accessible.

Fake uniforms and using falsely branded security vehicle
Issue 6 2020 , News
On Monday 10 August, six to ten armed suspects driving what appeared to be a branded Fidelity ADT vehicle and wearing security uniforms entered a business park.

From the editor's desk: Covid consolidation
Issue 6 2020, Technews Publishing , News
The global security industry has seen quite a few high-profile mergers and acquisitions over the past year or two, with an even greater number of smaller companies that don’t get the headlines also merging, ...

ONVIF adopts open source development
Issue 6 2020 , News
ONVIF announced it is open sourcing its network interface specifications for physical security technology.

Hored networking solutions now in South Africa
Issue 6 2020, LD Africa , News
LD Africa is the sole South African distributor for Hored smart networks and smart transmission solutions.

Suprema wins SIA award
Issue 6 2020, Suprema , News
Suprema Airfob Patch wins Judges’ Choice Award from SIA New Product Showcase.

Digitisation during COVID-19
Issue 6 2020, PSIRA (Private Security Ind. Regulatory Authority) , News
The COVID-19 pandemic has forever changed how business is conducted globally and PSIRA adapted to serve its community.

Datacentrix boosts security portfolio
Issue 6 2020 , News
Datacentrix has joined the Tenable Assure Partner Programme, strengthening its security portfolio with cyber exposure solutions from Tenable.