We at B&J Bookkeeping and Taxes are familiar with all types of bookkeeping and tax services scams. One of the latest involves Citi Bank, a leading provider of all types of bank accounts, credit cards, and more. We will tell you all about the Citi Credit Card scam below.
More on the Citi Credit Card Scam
Scammers know that millions of people use the services of Citi Bank. Sending out a mass email, text, or similar saying something along the lines of “Warning About Your Citi Account” will have recipients worrying about the safety of their accounts. This scam often originates in the Philippines or other foreign country. Scammers contact you warning about fraud on your account or will offer you a free credit upgrade. Other goodies they may offer you include a lower credit rate, lifetime fee waivers, and even free gift cards – which Citi does offer on occasion. All you need to do is hand over your card information. In other cases, they may have a one time PIN sent to your mobile device. Once you do that, the scammers are free to send themselves all sorts of cash advances.
How it Works
Have you ever logged on to your bank, credit card, or other account and the login screen gives you the two-step verification notice? This means they need to confirm you are indeed accessing the account and will send a text to the number you provided. The scammers know this. They have tried to access your account and have run into the two-step verification. They have the code sent to your mobile phone. You read them the code, and they are now free to change your password and basically wreak havoc until you or the credit card company get wise to the scam. Worse yet, you may be held responsible for some or all of the charges since you authorized the PIN number.
How to Avoid This Scam
Fortunately, there are many ways to avoid this scam. Be sure to do the following:
- Do not give out information over the phone to those who call you. Call your Citi account directly via the number on official statements to ask about any offers you may have if interested.
- Do not click links in emails, no matter how legitimate they look. Access your account directly online to get more information.
- Anyone who claims to be from an official government agency is most likely lying. Government agencies are more likely to contact you via regular mail first and hardly ever about a private Citi account.
- Do not give out information to telemarketers, sales people, or anyone who says your account ending in “xxxx” has been compromised. This information is easy for scammers to procure.
- Never give your one time PIN code to anyone but yourself. This is the last line of defense when accessing your account.
You can also read more on how to avoid this and other types of scams on the official Citi Cards site.
Bookkeeping & Tax Services in Houston
Finally, feel free to contact us if you are an individual or business who needs expert tax services and related to help protect your accounts, credit, and more from scams just like these.