10/08/2024
I was consulting yesterday and a patient told me he got his credit card scammed for $7500.
Here's the question that would have saved him...
"Did I call you or did you call me?"
The scam was quite advanced.
Here's how it works.
Scammer has your cc number and put through several small scam charges.
These are scam charges but just the warm-up to the actual scam.
They then call you pretending to be cybersecurity from your bank.
They ask for your details to "Confirm your identity".
They use this to log in to your banking app.
They then ask you for the security codes they send to your phone.
These codes confirm the exiting of the money out of your account and into theirs.
This scam is very good as it leverages the emotional response many people will have to see the initial scam charges.
Here's the question to ask yourself again...
"Did I call you or did you call me?"
If they called you, say "Thanks for letting me know, I'll call you back straight away"
You call your bank on their phone number.
Couple of other scam prevention tips.
1. Don't give one time codes to other people - Your bank may not cover your losses if you give out the one time codes to other people.
2. Consider making "2 to sign" for accounts with significant amounts in them
3. Lower daily transaction limits to smaller amounts.
Hope it helps!