What is "CARD CRACKING"?
Beware of fast-cash schemes! They are usually too good to be true!
Always safeguard your confidential account information!
"CARD CRACKING" is a growing scam in which fraudsters target consumers such as college students, newly enlisted military or single parents, generally in the 19-25 age range. These people are solicited via social media, such as Facebook, Twitter, and Instagram.
- Customers are asked to give up their debit card information and pin number in exchange for some type of kickback-usually a counterfeit check that is deposited into their account in which they think they are keeping part of the funds, only to find out later that all the funds have been removed from the account.
- Fraudsters deposit phony checks at an ATM or via a smart phone app in the customer's account. Then they withdraw the funds from the ATM before the bank realizes the check is fraud.
- Victims are left paying the price for their unfortunate mistake and can be charged as an accomplice for facilitating and participating in a crime.