Telephone Scams

Action May Be Required

The Risk Office Team continues to receive reports of a telephone scam involving fraudsters attempting to obtain personal information from cardholders. The details are as follows:

Cardholders have received computer-generated calls claiming to be from their financial institution. The calls claim their accounts have been frozen and then direct the cardholder to call a toll-free number to leave their debit card information in order to reactivate any cards. The toll-free number includes a recorded message that asks the customer to key their account number, card expiration date, and PIN.

Cardholder awareness is key in combating fraud. Should your cardholders receive any questionable calls, please make sure they do not provide their personal information.

In addition, you may want to share the following tips and/or characteristics of a fraudulent call with your cardholders:

• Make sure you [i.e. cardholder] initiate the contact, and the institution verifies your identity with questions only you would know.
• To verify whether a call is legitimate, call your bank or visit its website, using phone numbers or internet addresses from your bank statement or account documentation. Do not call back a number provided over the phone or click on a link in an email.
• Most communications will include something that will concern or excite the victim.
• If you have been the victim of a scam, file a complaint at local law enforcement.
• Notify your financial institution.
  

  As with all possible fraudulent situations, you are encouraged to take appropriate measures if a scam is suspected. Note that an excessive number of attempts at small dollar preauthorizations may be an indication of intent to commit fraud.