Credit card scam still looms

Credit card scam still looms

Upper Peninsula banks and credit unions continue to warn customers of the potential for fraud.

Increasing reports of fraudulent charges have been flowing in to financial institutions throughout the region. The problem seems to be stemming from a statewide scam based in Detroit. The investigation in to how it works and who is behind it is still being conducted.

Until the matter is under control, officials from some banks like the Marquette Community Federal Credit Union will not allow their customers to use a debit card for transactions that require a signature. Card holders can still access their debit accounts using PIN-based transactions.

Customers have voiced their concern about the possibility of identity theft, but bank officials insist no personal information is being stolen Account information is only being accessed by way of the card number, which is programmed onto the magnetic strip. That information does not include the CVC code, expiration date, customer’s name, or any other personal identification statistics. If the card is swiped, it only makes sure there is enough money in the account to fulfill the transaction.

More information about this case will be provided as it is made available.

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