Beware of Digital Credit/Debit Cards Modus Operandi
Not ashamed to share my real experiences today.
As Banks have been sending warning messages of card information not to be shared to people/even to bank officials, I realized the importance of such messages today.
Today I received a call from unidentified number regarding credit card cash back offer for existing customers and mentioned that I had some reward points I could redeem. They said they have a tie up with the banks for redeeming the reward points as they were getting expired and said it was Rs.4700. They asked whether I would like to redeem it as gift cards or deposit to credit card account. (Did not realize then that such mechanisms don’t exist!!!). I was so happy that they could redeem points to my credit card and happily started sharing my Credit Card Number and CVV (which according to banks should not be shared) to the person on the other side. They said an OTP will be sent to your mobile and you need to share it with them. I shared the OTP and then a transaction had happened. Then I realized that it was case of fraud where they were getting out money from credit cards. Immediately had to share the information with my banks to block my cards!!!
The modus operandi includes a fixed amount said to the customer of Rs 4700, somehow they came to know about my first digit of the credit card and specific bank cards requested to the customer. This is really bad with banks having to take steps of “cure” rather than “preventive” instruments to tackle such frauds in the digital payment age.
Please don’t entertain such calls and be aware of the messages from banks.
Considering being in this Digital Age, people have to experience this hassle of frauds in digital payments is overwhelming. Similar fraud cases have been reported online and I am sure banks have taken adequate steps to tackle such issues.
