Numbers duped by credit card PIN scam rocket

John Fitzsimons
by Lovemoney Staff John Fitzsimons on 07 December 2012  |  Comments 13 comments

Fraudsters have had a successful year duping victims into handing over their card and PIN.

Numbers duped by credit card PIN scam rocket

A telephone-based scam, aimed at fooling victims into revealing their PIN, has grown significantly this year according to figures from Financial Fraud Action UK and the UK Cards Association.

The scam has caused more than £7.5 million worth of fraud on credit and debit cards in the first eight months of the year, with more than 1,600 people falling victim.

What’s interesting is just how prevalent this scam has become. The money taken by fraudsters up to August is already ten times the amount stolen through this method in all of 2011!

How the scam works

The fraudster calls you, posing as someone from your bank, or perhaps the police. They claim that there has been fraud on your account and so your card will need to be collected and replaced.

The police have suggested that fraudsters may attempt to win your confidence by convincing you to hang up and call the bank for confirmation. However, they stay on the line and pose as a bank representative.

The fraudsters will either ask for your PIN or ask you to key the PIN into your telephone keypad before sending a courier to collect the card. As you’ve guessed by now, the card is actually collected (along with the PIN) by one of the scammers.

Who the scam is targeting

It will come as no surprise that it’s the elderly and vulnerable who are most likely to fall prey to this scam. The average age of victims is 69, with particular hotspots in London, Surrey and Strathclyde.

What’s scary is that Financial Fraud Action’s research has found that more than one in ten do not realise they should never reveal their PIN to anyone.

So while you may be a bit more savvy and unlikely to be caught out by a scam like this, it’s worth making sure that any older or vulnerable people in your family or friends are aware that a PIN is not something to be handed out to anyone.

A couple of other things to bear in mind:

  • Your bank will never ask you for your PIN
  • Your bank will never ring you to say they will come to your home to collect your card
  • You should always ensure you can hear a dial tone before calling your bank, and make sure you do so on an advertised number.

More on scams:

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How to protect your PINs and passwords

Don't be a victim of ID fraud

The five most common types of fraud

The scams that target the elderly

How credit card cloning works

How to spot a fake £1 coin

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Comments (13)

  • mark66jarret
    Love rating 0
    mark66jarret said

    Personally would give wrong PIN, because the bank will know your fibbing won't they, chop up card throw 1/2 of it away before putting in an envelope for the courier. When they arrive get them to sign for it take pictures of them with your envelope for security purposes & note the reg number of the vehicle then call the cops to report what you have don't. Can't see them coming anywhere near you if you have a camera.

    Also as a precaution invite all your mate's round in case they come on heavy and as witnesses who can help defend you in case of assault and if they were all weight lifters or bouncers all the better.

    Report on 17 January 2013  |  Love thisLove  0 loves
  • Latent
    Love rating 21
    Latent said

    Give a false PIN. When the courier arrives invite him in. (Have some mates around already). Lock the door and call the police....

    When the police arrive they will arrest you and your mates for kidnap and you'll get a criminal record, big fine and maybe sent down.

    Simples.

    Report on 14 February 2013  |  Love thisLove  0 loves

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