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Wednesday, June 6, 2012

(W) Chase banking users beware !!!

I recently received the following email and informed my Brother-In-Law NOT to take action as banks like Chase would NEVER send a generic email with links that are cryptic... Or would they?

I had my Bro-In-Law go into a local Chase Bank Branch and ask the manager about it and verify it. Turns out the Bank manager also had never seen such an email.
It was a notification from Adeptra Fraud prevention service used by Chase informing my Bro-In-Law that his Debit account account (yup.. debit) was used to purchase computer equipment in Honduras of all places and to approve the purchase or report it as fraud.

Really Chase and Adeptra, I mean REALLY ??? WTF !

He did call Chase after my warning and indeed it was fraud and thus a victim of Card Skimming as Brian Krebs writes so much about. His debit card number was skimmed somewhere and thusly used for nefarious charges by Honduran ne'er-do-wellers. He cancelled his card and got a refund very quickly. Remember Debit unlike Credit Cards are linked directly to your Checking account! If you get skimmed you might have an issue paying your mortgage and car payment before your case is resolved and you only have a few days to detect the fraud or the bank might not believe you.

Banks should NEVER send this type of email with links or telephone numbers. Rather they should tell you to call or visit your local branch (a number you should know) and ask to be transferred to the Fraud department, no email, no telephone, just URGENT - CONTACT US!!!

There are lawsuits over Wire Transfer Fraud where affected bank users felt their bank communication methods conditioned them to click on links in emails. This IS and always WILL BE a very BAD practice. Financial and Health organizations should never do this in emails.

Remember these Tips when using your Debit/ATM card.

1. When you use your Debit Card on a device that is outside or portable ATM or bad part of town... bad things can happen.
2. Be careful when you use your Debit Card and NEVER let it leave your sight when used, preferably never let it leave your hand.
3. If you need cash.. Go to a WalMart or Grocery store and buy a pack of gum and get Cash Back. These units are less likely (not impossible) to be modified with skimmers.
4. Contact your financial institution if you ever get an email with links to verify it is REAL.

Brian Krebs BLOG on Skimmers

#InfoSec #Fraud #Skimming