Posts Tagged ‘credit card scams’

Beware Of Phone Calls, Online Security Threat

Tuesday, December 7th, 2010

If you thought that online security threats were not related to phone calls that you receive, check out this telephone scam that uses online transactions to mess up your finances. This scam has been quite rampant in Asian countries for the last couple of years. Some of these scam ‘call centers’ have been identified and closed but, the ease with which money can be made attracts more fraudsters to the business.

This is a typical case in Thailand. You receive a call on your cell phone, pick the call and you get a recorded message that your credit card bill is overdue and the card is about to be deactivated by your bank. There are a few variations in the call content, at times the recorded message actually gives you a huge figure like 45,000 Baht (1,500 U.S dollars) that is supposed to be pending payment on your card.

The message then continues to ask you to press ‘0’ or ‘1’ for operator assistance. Once you get to the ‘operator’ a real person will try to get all your credit card details. This is basically information required to make an online purchase using the card. It is believed that some companies in China, Taiwan and Malaysia can actually use this information to make a ‘fake’ credit card that can be used to make purchases in stores or online.

While outstanding credit card payments might be a problem for many of us, answering such calls can just add to your financial woes. It is recommended that you always keep your credit card company’s telephone number at hand. Should you receive a such a call, disconnect the line and call your credit card company for clarification and details.

This report has been compiled by the Kaisilver network team. We do hope that you will pass the information to your friends, relatives and collegues. It is only shared information like this that can keep online scammers away.