When the cardholder says they haven’t made the purchase the caller states that “VISA” will be issuing a credit to your account. They then verify your address. When the cardholder says yes, the caller states that a Fraud investigation will be started, providing the cardholder with a fictitious “control number,” and encouraging them to call the 800 number on the back of their card if they have any questions.
The caller then states that they need to verify that the card is still in the cardholder’s possession and asks for the 3-digit security code on the back of the card. At this point, you’ve said very little and the caller has provided you with several pieces of personal information. If the cardholder provides those numbers, the caller simply agrees and says that is correct and they just needed to verify that the card was not lost or stolen.
The scam is looking for the 3-digit security code on the back of the card so purchases can be made on the card, without having the card in their possession. VISA has stated that they will never ask for any information on the card. VISA encourages anyone who receives a call like this to file a police report.