Credit card scams are nothing new, but here's a new twist on them. In this case, scammers already have your credit card information, but need the card's security code, the three-digit number located on the back of your credit card a vendor uses to ensure the card's actually in your possession.
Here's how the scam works. Someone calls you claiming to be from your credit card company's security and fraud department. The caller already has your credit card number by some form of identity theft. He or she may provide a badge number and tells you your card's been flagged for unusual purchasing activity.
The caller recites your address and asks you to verify it so a statement can be sent showing your account was credited. He or she also states a fraud investigation will be started, tells you to call the 800 number on the back of your card if you have questions and gives you a six-digit control number to refer to.
Finally, the scammer needs to verify the credit card is in your possession and hasn't been stolen and asks you to recite the three-digit security number on the back. Once read, the caller thanks you, asks if there's anything else he or she can do and hangs up. Sounds harmless, right?
Unfortunately, now the scammer has your verified address and credit card's security code.
The Better Business Bureau advises the best protection against schemes like this is to always verify the legitimacy of requests for personal information. While you may be asked to confirm your identity, your credit card company won't ask you to verify information it has on file, disclose security codes or prove the card is in your possession.
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