This novel con-trick is slick, and it’s extracting money from people all over the world.

You might get a call from “the Security and Fraud Department at Visa”. He or she will provide you with lots of information, except the one vital piece they want.

The caller will not ask for your credit card number, because the fraudsters already have it.

The person calling says: “This is (name), and I’m calling from the Security and Fraud Department at Visa. My badge number is 12460. Your card has been flagged for an unusual purchase pattern, and I’m calling to verify. This would be on your Visa card, which was issued by (name of bank). Did you purchase an Anti-Telemarketing Device for £497.99 from a marketing company based in London?”

(The shop, the product and the currency might vary, but you get the picture…)

When you say “No”, the caller continues with: “Then we will be issuing a credit to your account. This is a company we have been watching, and the charges range from £297 to £497, just under the £500 purchase pattern that flags most cards. Before your next statement, the credit will be sent to (gives you your address). Is that correct?”

You say: “Yes”.

The caller continues: “I will be starting a fraud investigation. If you have any questions, you should call the 0800 number listed on the back of your card (0800-VISA) and ask for Security. You will need to refer to this Control Number”.

The caller then gives you a six-digit number and asks: “Do you need me to read it again?”

Here’s the IMPORTANT part:

The caller then says: “I need to verify that you are in possession of your card.”

He’ll ask you to “turn your card over and look for some numbers.”

There are seven numbers; the first four are part of your card number, the next three are the security numbers that verify you are the possessor of the card. These are the numbers you sometimes use to make Internet purchases to prove that you have the card.

The caller will ask you to read those three numbers back to him.

After you tell the caller the three numbers, he’ll say: “That is correct, I just needed to verify that the card has not been lost or stolen, and that you still have your card. Do you have any other questions?” After you say, “No,” the caller thanks you and says: “Don’t hesitate to call back if you do”, and hangs up.

What the scammers want is the three-digit PIN number on the back of the card.

Don’t give it to them.

Instead, tell them you’ll call Visa or MasterCard directly for verification of the conversation. The real Visa organisation will never ask for anything on the card because they already have the information. They issued the card!

If you give the scammers your three-digit verification number, you might think you’ll get some money back. But when you get your statement, you’ll see charges for purchases you didn’t make, and by then it’s probably too late and/or more difficult to file a fraud report.

This fraud isn’t restricted to Visa customers. “Jason Richardson of MasterCard” is calling people all around the world, with a word-for-word repeat of the Visa scam.