Clever new credit card scam warning

[Jules Richardson]

My registered phone number for my cc company is at my parents' house, which is handy - if they need to contact me, they call there, and my folks can then let me know to call them back (using the number on the back of my card). If I get a call from visa or my bank directly to my phone number in the US, I know it's got to be a scam.

cheers

Jules

[John Whitworth]

Of course, alarm bells should start ringing straight away, as Visa or MasterCard will never ring a cardholder. You would be called by your issuing bank, not the card scheme, as it's issuer that you have a contract with. Visa/MasterCard don't know you from Adam.

Saw an interesting presentation the other day, about something called Visa CodeSure.

basically combines the existing CAP/DPA reader, which many people have for online banking, with the card itself. I already knew of this from Cartes

2008, but what I didn't realise is that the card can also be used for a cardholder to ascertain that he/she is actually talking to the bank. I.e. when the call is initiated, the bank employee can give the cardholder a code to verify using the card. So effectively, a two-way authentication can take place. Then it's just down to consumer education again.

JW