Wednesday, January 29, 2014

What $9.84 Should Mean To You If You Own A Credit Card

picture source: eb.wikipedia.com
The next time you review your credit card statement, pay very close attention to any charges made in the amount of $9.84. Apparently scammers are using that amount in a new twist on an old scam. Known as Salami slicing or penny shaving, small amounts of money (usually fractions of a cent or cents on the dollar) are taken from compromised accounts.

Small charges may seem insignificant but that is exactly what makes scams like these successful. Scammers charge seemingly small amounts on credit cards in the hopes that such a small amount won't bring attention to the scam, leaving the victim open for continued attacks:


Takeaway: Always review your banking and credit card statements and reporting any discrepancies no matter how small to your financial institution. Scams such as these thrive on the victim's poor attention to detail; being vigilant and having a proactive response to security will prevent you from being a scammer's next victim.

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