Credit card scams are on the rise, especially during the holiday shopping season, according to a report from FOX Business. Fraudsters are using various tactics to target consumers, including deploying credit card skimming machines and creating fake websites that mimic popular brands. Visa has reported a significant increase in fake and spoofed merchant websites in the past four months, with a 284% jump compared to the prior four-month period.
In addition to fake websites, scammers are also posing as legitimate charities and sending text messages claiming fraudulent charges on credit cards. Consumers are advised to independently verify the legitimacy of websites and charities before making any payments. It is also important to be cautious of any text messages requesting personal information, as legitimate credit card companies will never ask for sensitive information via text or email.
Another common scam highlighted in the report is "card cracking," where scammers solicit consumers on social media platforms like Instagram and convince them to share their bank account information for fake check deposits. Scammers will then withdraw the funds using mobile deposit and ATMs, leaving consumers vulnerable to financial loss.
ATM skimming devices are also a prevalent threat, with fraudsters using various methods to capture customers' PIN numbers and card information. Skimming, phishing, and identity theft are among the most common credit card frauds reported by securities attorney Andrew Stoltmann.
To protect themselves from falling victim to credit card scams, consumers are advised to verify the legitimacy of websites and charities, avoid sharing personal information via text or email, and be cautious of unsolicited messages or requests for financial information. Remaining vigilant and taking proactive measures to safeguard personal and financial information is crucial in preventing credit card fraud during the holiday season and beyond.