Visa/MasterCard Scam

Don’t Fall for It: The Visa/MasterCard Scam

There’s a scam making the rounds, and while it sounds official, it’s anything but.

At MVFCU, your financial security is our top priority. That’s why we want to make sure you’re aware of a common scam that involves a fake call from someone claiming to represent Visa or MasterCard’s fraud department. It might sound legit, but don’t take the bait.

Here’s How the Scam Works:

You receive a call from someone claiming to be from the “security and fraud department” at Visa or MasterCard. They say they’ve noticed suspicious charges on your card and want to verify the transactions. They may even read off your full name, mailing address, or the first digits of your card number, which makes them sound legitimate.

Next, they say they need to verify that you still have the card in your possession and ask for the 3-digit CVC code on the back. This is where the scam happens.

Once you give them your CVC code, they can use your card to make unauthorized purchases online or over the phone.

What Makes It So Sneaky?

• The caller might already know some of your information.
• They may claim the call is for your protection.
• They pretend to be from a well-known brand like Visa or MasterCard, but those companies don’t call consumers directly.

What You Should Do:

✅ Hang Up Immediately. If you get a call like this, don’t engage—just end the call.
✅ Never Share Your CVV Code. No legitimate company will ask for that info over the phone.
✅ Call Us Directly. If you’re ever unsure, contact MVFCU at 507-387-3055. We’re always happy to confirm whether a call was real or a red flag.
✅ Monitor Your Accounts. Keep an eye on your transactions and report anything suspicious right away.

Remember:

Visa and MasterCard do not contact cardholders directly. Only your card issuer will reach out and even then, we’ll never ask for full card numbers or security codes over the phone.

Stay informed. Stay safe.
Scammers are smart, but together, we’re smarter. Share this info with friends and family to help them avoid fraud too.

If you think you’ve received a suspicious call or accidentally gave out personal info, call us right away. We’re here to help.