Scammers call unsuspecting credit card users and promise to lower the interest rate on their credit card, but instead steal their remaining funds.
SOFIA, BULGARIA, June 27, 2022 /EINPresswire.com/ — Monthly credit card bills can be a drag, especially when someone is trapped with financial burdens. Finding a way to reduce bills seems like a fitting way to save a lot of money. This includes planning a monthly budget to cut down on buying expensive things towards the end of the month.
But what happens when card users receive offers of guaranteed credit card interest rate reductions that promise to help them save thousands of dollars?
Experts say most of them are likely to trick card users with their hard-earned money.
Cyber-Forensics.net, a cybercrime service for victims of online scams, recently revealed the following:
Timothy Benson, blockchain specialist at the company, who also offers expert advice on how to recover stolen bitcoinsinvestigated a case revealing the following:
Three global marketing companies have targeted people in financial difficulty through illegal robocalls and telemarketing. The goal of these three marketing companies was to sell a bogus credit card interest rate reduction service for an upfront fee. These companies falsely claimed to offer people zero percent interest rates on credit card debt. But their false promises didn’t stop here.
Fraudsters also promised credit card users thousands of dollars in savings if they invested in an online financial aid fund they were launching. A few consumers bought into the idea and ended up paying extra for balance transfers and other fees that were hidden from them.
To make matters worse, the companies also collected social security numbers, credit card numbers, security codes, and personal information from the targets over the phone.
How have the agencies responded?
Law enforcement and cyber agencies immediately set up a plan to identify fraudulent companies. Authorities managed to identify the names of these three companies, quickly revealing the pattern of the scam: how they convinced people to use their services, how they stole information without consumer consent, and much more. Moreover.
How to protect yourself against the interest rate reduction offer scam?
Here are some steps recommended by experts to stay protected:
◉ Call the bank and confirm: The best way to get a lower interest rate on credit cards or find out about interest rate discounts is to call the bank for free. Users can find customer service numbers on the back of the credit card they use.
◉ Never share sensitive information with telemarketers. In most cases, scammers have a way of convincing their targets to reveal sensitive information, either through social engineering tactics or phone manipulation.
◉ Never pay an upfront fee for a service that should be free: It is illegal for companies to charge their customers a fee for performing debt relief services, such as debt reduction. credit card interest, as these are usually done free of charge.
◉ Do not answer unsolicited calls unless necessary. The first seconds of the call are enough to give an idea if the call was made with a purpose. The best way to handle unwanted calls or robocalls is to hang up immediately. Remember that scammers can also use this information to perform other types of financial fraud.
◉ Be aware that scammers may try to influence victims by saying they have special ties to credit card companies.
What steps to take after falling victim to an online rate reduction offer?
Peter Thompson, who has actively helped victims of online scams gather information on how to recover stolen bitcoin and other financial fraud, reveals that “although it can be difficult if victims remain vigilant, they can reduce financial damage after being targeted by a scammer”. .”
Protect financial information: The first step is to secure the account balance amount or secure other financial information before it is penetrated. Victims can do this by:
◉ Changing email account password
◉ Quickly change credit card pins
◉ Move cryptos to hard wallets
◉ Change payment app passwords.
◉ Delete any food delivery or third party apps on the device linked to your credit card.
Report the matter to the law: After obtaining financial information, victims should rush to report the incident quickly. This will ensure that law enforcement is aware of widespread fraud. They will also guide victims more accurately.
Report the problem to the credit card company: without wasting time, enter or print a complaint template and send it to the credit card issuers so that they can block any unauthorized transactions.
How do I report the interest rate cut scam?
There are two ways to report criminal activity, i.e. online or offline.
◉ Online means include sending emails to relevant authorities, banks, credit card companies, Internet crime complaint centers, cyber cells, etc., or calling them via the numbers provided on official websites.
◉ Offline methods: In cases of online fraud, it is best to keep conversations offline and file a detailed law enforcement report directly with the relevant authorities. But make sure you have all the documents organized in order to save time.
◉ Get help from money recovery services: In case victims are unable to find a logical way, it is best to engage the best crypto recovery services that will help formulate a well-structured complaint to submit to the court.
How can the recovery of funds help victims?
Funds recovery service providers can help you recover money from a scam, merchant, credit card company, online scammer, forex broker or other unscrupulous party. They use their knowledge, skills and extensive data tracking technology to track down offenders.
Investigators are trained to spot fraudulent behavior in seconds and help rescue financial assets quickly.
However, choosing a steadfast service company can make a big difference. So be careful when hiring. If in doubt, it is best to consult online reviews to make a firm decision. For example, a multitude of victims who receive help recommend Cyber-Forensics.net as a trustworthy name.
Cyber-Forensics.net is committed to providing the most accurate tracing service for victims of online scams. Cyber-Forensics.net enables and simplifies the process of tracking down cybercriminals and helps recover funds and create an atmosphere conducive to a negotiated settlement. Cyber-Forensics.net usually deals with bitcoin scams and forex withdrawal issues. For more information, please visit https://cyber-forensics.net/.