This Week In Credit Card News: The End Of Orman’s Debit Card, More …
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Prepaid Debit Cards Becoming Choice Of Scammers
Article from CBS Local:
GYPSUM, Colo (CBS4) – For years, scam artists have been asking people to wire money to them. As a result, people get suspicious when they bring up wire transfers, so they are turning to prepaid debit cards.
“The scammers are having to turn to these money cards more and more, so they’re taking their time, they’re talking slowly to seniors, they’re walking them through the process,” said Cary Johnson, consumer fraud investigator for the Jefferson County District Attorney’s Office.
Prepaid debit cards are wildly popular among people without a bank account and young people who are getting money from their parents. The cards are readily available at a wide variety of stores.
Consumers buy the cards, load their money onto them, then activate the card and use it just like a debit card. In order to activate the card, federal law requires you provide your name, your birth date, and your Social Security number.
From there the scammers want you to give them all the numbers associated with the cards so they can collect the money you’ve loaded onto it.
“There are some issued by traditional credit card companies … American Express has…………………continues on CBS Local
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