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Essentially, prepaid card scams involve any illegal or fraudulent use of stolen prepaid card credentials. Fraudsters often use prepaid cards to make illegal purchases, accept fraudulent payments or arrange payment to facilitate larger scams.
We don’t ask for payment with a prepaid card. If someone tries to sell you services or an upgrade this way, it is likely a scam. To make the scam appear legitimate, the bad guys may also spoof a company phone number.
Prepaid fraud occurs when a fraudster uses stolen prepaid card information to make a purchase or buys a prepaid card with other stolen payment credentials. Prepaid cards are also a common method of payment used in financial scams.
In 2015, the FCC fined six companies $30 million for deceptive marketing of calling cards. Common complaints associated with prepaid phone cards. As prepaid phone cards increase in popularity, some common complaints are: Access numbers and/or PINs don't work. Service or access numbers are always busy.
In this article, we will help you understand the nature of prepaid card fraud and then outline how you can resolve and mitigate it. We’ll cover: What is a prepaid card? Pursuing clarity; Types of prepaid card fraud; How to resolve prepaid card fraud; E-commerce chargebacks: Additional risks for prepaid card sellers
Most phone-based prepaid card scams involve a fraudster and an unwitting citizen who gets duped into sharing their card credentials. But sometimes it’s employees who get scammed. This could be a merchant who gets tricked into sharing card details as part of a bogus test of a credit card terminal.
If you suspect a prepaid card scam: Hang up immediately. We don’t ever ask for prepayments with prepaid cards or gift cards. Report suspicious phone calls or text messages to us.