Cyberthieves come up with new way to steal credit card
Updated: Saturday, August 3 2013, 02:51 PM CDT
Cyber thieves have a new way to take control of your credit card account.
(Carla Menedez, US Postal Inspector)
"The bad guys are calling in with all the personal identifying information of the victims…"
And once they do, scammers can get access to your credit card account. They can add themselves to your account, get their own card with their name on it and start charging.
"The bad guys are going in and buying electronic and going to pawn shops to get cash."
In one scam, postal inspectors seized large ticket items including big screen TV's and video game systems, bought with other people's cards..
In one case, losses totaled $120,000 dollars.
"The bad guy wasn't very smart in this case. He purchased 2 moneygram money orders from a local merchant and when he went in to purchase the money order, he actually wrote his real name and his real address down on the money order."
That led them to the suspect's home.
"Through our investigations we were able to find the victim's credit card in the suspect's trash."
That's just one of many cases.
Account takeover fraud went up dramatically in 2012, losses totaled almost 5 billion dollars.
That's a 69% increase over 2011.
So what can you do?
"One thing we always recommend is to check your credit report once a year to make sure nothing fraudulent has happened to your credit."