Fake calls from Visa: Thunder Bay police issue warning about new fraud scheme
Fraud scheme begins when people are told their credit card has been compromised
Thunder Bay police are issuing a warning about a new fraud scheme, which has cost some people thousands of dollars.
People are being called by someone saying they are from Visa, and are being told their credit card has been compromised with invalid purchases, police stated in a written release Friday.
The caller then asks the person for their assistance in a sting operation by transferring money, and promises them the money will be replaced.
Police said the money that is replaced is actually being transferred from the customer's own line of credit or credit card — without the customer's knowledge — to make it appear like the money was returned.
Police have confirmed that "this is a fraud and once that money is transferred; there is little that can be done to get it back."
Officers are advising people to be cautious when speaking to strangers over the phone as credit card companies will not ask you to assist them in a sting of any kind, let alone use your own money to assist it.
Police are recommending people simply hang up if they receive an incoming call regarding their banking or financial information and call their credit card company directly.