Our research, news, ratings, and assessments are scrutinized using strict editorial integrity. Our editorial staff does not receive direction from advertisers on our website. Learn more here.
It’s the time of year when many people expect to receive gifts and packages from loved ones, a fact that is being exploited according to a recent Facebook post made by Placer PROTECT. Placer PROTECT is a multi-agency, elder-abuse task force located in Placer County, California, and they are warning residents of a recent credit card scam that took place.
A resident of the Del Webb senior community took a phone call from someone who claimed to work for a delivery company. The caller said he was calling to ensure that the resident would be home to sign for a delivery package within the hour. The delivery person arrived, bringing with him a basket of flowers and a bottle of wine for the resident.
He then explained that because the gift contained alcohol there was a $3.50 charge to verify that an individual over the age of 21 had received the package. After trying to pay in cash, the resident was told that a credit card transaction was required by the company.
Then resident paid with a debit card and entered his or her PIN number; then he or she was given a receipt for the transaction. Over the next four days, over $4,000 was stolen from the resident’s debit card account.
Police are now referring to this incident as the “Delivery Man Credit Card Scam” and are reminding consumers to never give their payment information to a delivery person. It is also a good idea to always verify the identity of the sender before accepting any surprise gifts.
Financial fraud against seniors is a growing problem in the United States. Seniors are often the target of scams because they have a harder time knowing who to trust.
And while EMV chip cards have made it more difficult for criminals to counterfeit credit and debit cards, credit card scams are still a problem today for all consumers. In fact, recent statistics have shown that credit card fraud is actually increasing in spite of EMV chip technology.
Consumers should always take extra precautions to keep their information safe from scam artists. Good fraud protection practices include closely monitoring all bank accounts, shredding any papers that have accounts numbers on them, and always being cautious about giving out credit card information.
Interestingly enough, LendEDU recently covered a few startups aiming to eliminate the threat of credit card scams once and for all. Virtual, disposable credit card number may represent the future of credit card transactions if it proves to be more secure, but consumers would also need to sign on to the idea as a whole. Who knows, It could eventually replace standard credit cards.
Author: Mike Brown
In his role at LendEDU, Mike uses data, usually from surveys and publicly-available resources, to identify emerging personal finance trends and tell unique stories. Mike’s work, featured in major outlets like The Wall Street Journal and The Washington Post, provides consumers with a personal finance measuring stick and can help them make informed finance decisions.