Dirty #debit deeds we expect to see in 2017

Robocalls, social media schemes and criminals posing as fraud investigators are just a few tricks likely to pick up steam this year.

Debit chip cards are on the scene in greater numbers, yet they are far from ubiquitous – leaving just enough room for fraudsters to keep up their dirty deeds. That is not to say these criminals aren’t feeling the pressure to innovate. They can see chip cards flooding the market and know it’s only a matter of time before the old dogs among them have to learn new tricks.

Here are just a few of the debit card tricks, traps and scams we expect to see pick up steam in the coming year.

  • Robocalls telling victims their debit cards have been locked – Nervous cardholders follow instructions in the calls, one of which is to key in their card numbers, expiration dates and PINs. All of this information, delivered right to the scammer, is used to produce counterfeit debit cards to pull cash from ATMs or make purchases in-store and online.
  • Card-cracking artists using social media to lure victims – Millennials are the targets of these scams, which ask debit cardholders to share their cards and PINs as a way of earning extra cash. Scammers deposit fake checks into the associated accounts, make immediate withdrawals and then share some of the cash with the victims. When victims’ financial institutions (FIs) eventually find fraudulent checks, the debit cardholders are left holding the bag.
  • Seniors being tricked into handing over cards in their homes – In what is a particularly offensive move, con artists posing as FIs’ fraud investigators have begun to talk their way into the homes of people as old as 96. Once inside, they convince victims to swap cards, saying their original card was compromised.


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