Lesser-known scams for credit cards & online shopping
From getting swindled by shady online businesses to picking up legit-looking phone calls with the +65 prefix, it’s tough to keep track of all the emerging scams these days – even with PSAs on the news and social media. Scams can vary across avenues, from fake online shopping payment forms to voice phishing, so it’s good to always have our guard up.
Here are 7 lesser-known credit card and online shopping scams you can take note of and start blasting in your WhatsApp family chats, to save your trusting folks from being scammed:
1. Random card number generator – Affects big & small transactions
Image credit: Unsplash
Scammers are getting more creative these days, tapping into technological advancements that the average person wouldn’t even know exists. This scam involves a random card number generator which fraudsters use to generate endless card numbers, of which some will eventually be valid.
Scammers will test the generated numbers by guessing the month and year combination of your credit card expiry date, using small transaction amounts.
Once they’ve hit the jackpot with the correct expiry date corresponding with the credit card number, they will use your card to commit larger-scale fraud for as long as the unauthorised transactions go undetected. By the time you realise you’ve been scammed – be it through your monthly credit card bill or through your bank statement – it would’ve been…
