Consumer Tip: Credit Card and Banking Safety

It happened again today. I work at a financial institution and every day we hear of a customer (or customers) giving out their personal information over the phone. Thieves have changed their tactics over the years, but they're all after the same thing- your personal information, including your routing and account number, and/or your credit card number. Give them your date of birth and/or social security number and you can just count on being tied up with law enforcement and collectors for the next year.

For several years, we've all heard of scammers phishing for information, often posing as your financial institution or a well known company you've dealt with in the past, like Microsoft or eBay. These emails will often carry the company logo or an icon with a link and inform you that your account has been breached or perhaps you need to update your personal information. Don't ever attempt anything of that nature using a link from an email. More than likely, it's bogus. If you suspect you need to contact the company in question, pick up the phone and give them a ring or go directly to their website.

Lately, scam artists have taken to the phones using similar tactics. Posing as collection agents or a representative of the company, they'll inform you that the last payment was missed and you need to make that now to avoid a late fee. We'll even take that payment over the phone. If you cannot verify that person's identity and if they cannot provide a call back number, hang up the phone. That caller may be seeking your credit card number, not to take a payment on your XM radio account, but to max out your line of credit. These clowns often have lengthy shopping lists and can max out a $10,000 line of credit in minutes, if not less. That's all it takes folks.

Lesson of the day: Do not share your personal information with anyone you do not know, especially to folks making unsolicited phone calls. If you believe it may be a valid call, get their name and offer to call them back. You can usually Google the phone number or check this link to see other possible reports on the same phone number: www.complaintsboard.com. -SH