New Creditcard scam - Telephone scam

New Credit Card Scam I recieved this info from the bank - PLEASE READ

This one is pretty slick since they provide YOU with all the information, except
the one piece they want.
Note, the callers do not ask for your card number; they already have it. This
information is worth reading. By understanding how the VISA &
MasterCard Telephone Credit Card Scam works, you’ll be better prepared to
protect yourself.
One of our employees was called on Wednesday from 'VISA', and I was called
on Thursday from 'MasterCard'.
The scam works like this: 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 R497.99
from a Marketing company based in 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 R297 to R497, just under the
R500 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 6
digit number. 'Do you need me to read it again?'
Here's the IMPORTANT part on how the scam works the caller then says, 'I
need to verify you are in possession of your card.' He'll ask you to 'turn your
card over and look for some numbers.' There are 7 numbers; the first 4 are part
of your card number, the next 3 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 you have the card. The caller will ask you to read
the 3 numbers to him. After you tell the caller the 3 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 then thanks you and states, 'Don't hesitate to call back if you
do', and hangs up.
You actually say very little, and they never ask for or tell you the Card
number. But after we were called on Wednesday, we called back within 20
minutes to ask a question. Are we glad we did! The REAL VISA Security
Department told us it was a scam and in the last 15 minutes a new purchase of
R497.99 was charged to our card.
Long story - short - we made a real fraud report and closed the VISA account.
VISA is reissuing us a new number. What the scammers want is the 3-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 their conversation. The
real VISA told us that they will never ask for anything on the card as they
already know the information since they issued the card! If you give the
scammers your 3 Digit PIN Number, you think you're receiving a credit.
However, by the time you get your statement you’ll see charges for purchases
you didn't make, and by then it's almost too late and/or more difficult to
actually file a fraud report.
What makes this more remarkable is that on Thursday, I got a call from a
'Jason of MasterCard' with a word-for-word repeat of the VISA scam. This time I
didn't let him finish. I hung up! We filed a police report, as instructed by
VISA. The police said they are taking several of these reports daily! They also
urged us to tell everybody we know that this scam is happening .
Please pass this on to all your family and friends. By informing each other, we
protect each other.