The beauty of the scam
Date: December 05, 2007Source: minyanville.com
The holidays bring good cheer, mistletoe – and scam artists.
Holiday scammers play on your trusting nature, desire for a bargain and “urgent need” to update your financial information in their continuing quest to separate you from your money.
“Skimming is the simplest scam,” says Jim Stickley, co-founder of TraceSecurity in Baton Rouge, Louisiana. “The person processing your credit purchase disappears for a brief period, copies down your name, account number and the number on the back of the card before returning it to you. The thief can then use your credit card.”
The beauty of the scam is that you won’t know you’ve been had until the bill arrives a few weeks later. By then, you’ve almost certainly used the credit card several times and it’s difficult to trace the fraud. So, never let your card out of your sight.
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