‘Vishing’ – A New Type Of Credit Card Fraud
With the full integration of Chip and PIN technology in 2005, credit card fraudsters now have to look for ever more ingenious ways to try and defraud UK credit cardholders. Topping this list is a very ingenious and sophisticated telephone scam that fraudsters are using to obtain the credit details of cardholders – ‘vishing’.
‘Vishing’ is an evolution of the now well-know email phishing fraudster trick ‘phishing’. However, as with all confidence tricks, vishing relies on the fraudster creating an environment in which the person defraud feels safe. Consequently, you need to be aware that although you may believe the situation to be genuine, it may well not be. In order to succeed, the fraudster tries to obtain your credit card number, its expiry date and, if possible, the 3 digit CVV security code. To do this, the fraudster will call your home and when you answer the call you will be met with an automated recording informing you that your credit card has incurred fraudulent activity. You are then given the number of a Helpdesk that you should immediately ring to obtain further information. Normally this Helpdesk number will have an 0800 prefix.
Once you call the Helpdesk number you’ll once again be met with an automated voice asking you to enter you credit card number. More risky fraudsters also ask you to enter your 3 digit CVV security code and the expiry date of your card. Nevertheless, even without knowing these last two pieces of information, the fraudster already has all the details they now need to fraudulently charge thousands of pounds to credit card, as they’ll have your credit card number, telephone number and can easily obtain your address information from your telephone number.
In order to avoid falling foul of this new type of credit card fraud, credit cardholders are being advised to exercise extreme caution. For example, if you are phoned by your bank or credit card issuers with a warning that your credit card has recently had a fraudulent transaction, you should not necessarily automatically believe this. What’s more, you should defintely check to see if the number provided to you is the normal fraud hotline that your credit card provider would ask you to ring. If it is not, then alarm bells should be ringing and you should make an enquiry directly to one of the advertised numbers that your credit card provider periodically informs you of.
The rules of how to avoid vishing credit card fraud are the same as they have always been: remain vigilant at all times, do not provide your credit card information without verifying that it is a secure situation and never give your credit card 3 digit CVV number to any caller who asks for this information unsolicited.
In the event that you think you may have fallen for a vishing fraudsters trick, immediately telephone the number of your credit card statement and inform your credit card company that you believe you may have fallen for a credit card fraud.
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