A new and highly sophisticated scam is currently making waves in the Midwest U.S., and many experts believe it’s only a matter of time before it reaches Canada—if it hasn’t already. What sets this scam apart is its ability to deceive even the most vigilant individuals by cleverly mimicking official communications from credit card companies.

How the Scam Works

The caller, who claims to be an investigator from the Security & Fraud department of Visa or Mastercard, contacts you directly. They don’t ask for your credit card number because they already have it. Instead, they present themselves as a legitimate representative, complete with a badge number, and inform you that your card has been flagged for an unusual purchase pattern.

They might ask if you recently purchased an Anti-Telemarketing Device from a marketing company in Arizona. When you deny the purchase, they assure you that they will correct the issue by crediting your account. They even provide your home address and ask if it’s correct, which adds to their air of legitimacy.

To further convince you, they initiate a so-called “fraud investigation” and give you a control number for reference. They then ask you to verify that you are in possession of your card, supposedly to ensure it hasn’t been lost or stolen. Here’s where the trap is set—they request the three-digit security code on the back of your card.

The Red Flags

While the entire call may sound official, there are crucial red flags to be aware of:

• No Need for Security Codes: Visa and Mastercard will never ask for the three-digit security code on the back of your card. They already have all the necessary information. Legitimate calls may ask for your security question, date of birth, or to verify your mailing address, but they won’t request sensitive information like your CVV code.

• Verification Process: If a call like this feels suspicious, it’s essential not to provide any information. Instead, hang up and contact Visa or Mastercard directly using the number on the back of your card to verify the legitimacy of the call.

Stay Vigilant and Report Suspicious Activity

This scam is particularly dangerous because it sounds so convincing, and it’s already proven to be highly successful. If you receive a call of this nature, do not provide any details. Report any suspicious activity to your credit card company immediately.

Remember, if something feels off, it probably is. Protect yourself by staying informed and cautious, and always report anything unusual or suspicious. Your vigilance can prevent you from becoming the next victim of this growing scam.