Debit Card Scammers Hack Caller ID in Illinois - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Debit Card Scammers Hack Caller ID in Illinois

Debit Card Scammers Hack Caller ID in Illinois

Debit Card Scammers Hack Caller ID in Illinois
The content is accurate at the time of publication and is subject to change.

As technology continues to change, evolve, and advance, so do the ways that scam artists try to bilk consumers out of their money. Residents of one Illinois County are learning this lesson the hard way. The latest scam involves an automated system randomly calling households and informing unsuspecting consumers that there was a problem with their debit card. A professionally recorded message requests to enter a debit card number to proceed.

Now, you may be thinking, “Who actually falls for this stuff?” This situation, though, is different, because the caller ID displays an unblocked phone number an actual name of an existing financial institution. In reality, it’s not the financial institution, but simply divisive and ingenious scam artists making consumers think it’s a legitimate call and tricking them to hand over their debit card number.

Why Debit Cards are a Target

One of the primary reasons that the debit card has become the latest target is that consumers are using these cards more and more. Debit card usage increased by 58% in 2008 and is expected to surpass 67% by 2013. Targeting debit cards is also logical because it gives scam artists access to cash that comes directly out of a bank account. While steeling a credit card number may only lead to obtaining merchandise that could be sold for cash, debit cards and stolen PINs cut out this inconvenient step for the thieves to get the cash.

Other Scams

The phone scam is not the only scheme used to target your wallet. Debit and credit cards alike may be vulnerable at the gas pump or at an ATM machine. Scammers have learned to install sophisticated scanning devices at card swiping locations. The technology allows them to read and wirelessly transmit all of your card information to a thief’s laptop nearby. Not only is the magnetic strip on your card is scanned but also the keypad where a Personal Identification Number (PIN) is entered during a transaction.

What to Do

Whether you live in Illinois or not, similar scams are sweeping the nation. Prevention is always the best strategy. Here are a few advices on how to stop theft before it happens.

Be suspicious. If you receive a call asking you for any personal information, rather than being gullible and handing it over, let the caller to provide a phone number and insist that you want to verify and insist to call back yourself. Incase, there may be an actual problem, go to the company website, or pull out your card or statement and call the number listed there. Let the representative know what type of a call you received and verify that the call is legit. The extra minute you spend to verify that the call was legitimate will save you money and nerves. It’s always a pleasure to pat yourself on a back that you didn’t hand over your bank account information to a total stranger. In short, never give out any information over the phone because you have no idea who is calling you on the other end.

Always know your surroundings. If you see someone suspicious with a laptop near a swipe machine it is a sign of a possible theft in progress. Another useful advice is to choose using a credit card at the pump versus a debit card so you could avoid entering your PIN. When making withdrawals using your ATM card, use bank ATMs instead of convenience stores, kiosks and airport ATMs because they an actual bank ATM may be safer.

While Illinois residents should be on a high alert, debit card frauds and scams are growing supported by new technologies and innovative thieves. When you are a smart and an educated consumer, your knowledge becomes a shield that protects you from falling prey to these devices that gather steal your money and identity.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Minor League Baseball and Allegiant Airlines Partner Up

Posted: December 13, 2018

Allegiant Airline and Minor League Baseball have inked a deal paving the way for a credit card partnership, one giving fans a credit card that reflects their fandom in terms of rewards whether they are traveling or catching a game. When ... Continue reading
Capital One Partners Up With Airlines

Posted: December 12, 2018

Capital One has partnered up with 14 airlines so that Venture and Spark cardholders can now use miles to pay for their flights. What is the transfer ratio? All of the carriers that have partnered up with Capital One, except for Emirates ... Continue reading
Holiday Shopping is Trending

Posted: December 11, 2018

Shopping is definitely in style this holiday season with consumers, according to the new TD Bank Holiday Retail Report, on average they will be spending $530 on gifts. What are the trending gift-giving categories this season? Gift cards ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles. That's $600 towards travel!
For Excellent, Good Credit
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!