ICFE eNEWS #15-19 - June 12th 2015
Credit Card Alerts a New Concern for Consumers"
By Gregory Bresiger
New York Post, May
23, 2015, 8:24pm
What the hack?
While most Americans are worried about
credit card and bank fraud, they should treat safety "alerts" with
a degree of skepticism as well.
Many consumers have received
a seemingly legitimate credit-card or debit-card alert that is actually
part of a scam.
In a recent poll, about 70 percent of respondents
said they received a fraudulent fraud alert from a card company.
A little over half of the alerts of the blocked charges were
legitimate purchases "that were wrongly blocked by the issuer,"
according to the poll for CreditCards.com.
by the scammers are usually college graduates and the affluent,
for their ability to access larger credit lines.
big problem, and card companies are having problems keeping up with
all of it," said Matt Schulz, a senior industry analyst with CreditCards.com.
Given recent high-profile data breaches, card companies are
stepping up monitoring, Schulz said. They do so, in part, because
the company, not the cardholder, is usually stuck with the fraud
But what should the cardholder do if he or she receives
one of these notices?
"If you have an received an e-mail,
text or some Web browser pop-up that is asking for your bank, credit-card
information or some sort of payment details, do not respond or click
any link," says Shaun Murphy, CEO of Private Giant, a firm offering
online communications privacy services.
The safest thing
to do, he adds, is to delete it. "If your bank or credit-card company
wants to see the e-mail, you can always go into the deleted items
and forward it, but wait for them to ask," Murphy says.
advises consumers to notify card companies "before traveling or
making other unusual purchases."
Most card issuers now offer
online notification tools. Schulz says more information is available
Two government teams monitor the problem as well. They can be