If thieves already have some of your personal information, there's one thing they may not have that they need to spend your money: your credit-card security code.

The security code is the three or four digit number, often located on the back of your credit card, in transaction online or in store for security purposes. An added layer of protection deployed by issues. It's not readily available, and it's something con men need to use your card. Unfortunately, they've discovered a new way to try and obtain that it: by tricking you.

Phishing is a form of fraud where people try to get you to reveal information about yourself by posing as a source, in this case your credit card issuer.

The scam comes after an already failed attempt is made to use the compromised card. The thief will then call you posing as your credit card's security department informing you of the failed attempt. They'll then pretend to open an investigation and provide you with other seemingly legitimate follow up information. However, just before ending the call, they'll ask to verify your credit card's security code, claiming they need it to prove that you're actually in possession of the card. 

This is the main reason for the call. Once they have that code, that's when they can start using your card.

Here's what to do if you receive one of these calls:

  • Don't reveal any information to the caller, even information that he seems to already know.
  • Hang up and call the number on the back of your card to report the attempt to the fraud/security department. Also, review your account for fraudulent activity.
  • Report the call to the FTC at ftc.gov/complaint or 1-877-FTC-HELP.
  • Tell others. Word of mouth can help others avoid a similar situation.

If you are in need of new credit card payment software for your business, be sure to contact 911 Software. Our website is a great way to learn all about the different high-quality products that we offer.