MVSB and other local financial institutions are seeing an uptick in Mobile Wallet Fraud, a form of mobile payment scam using stolen credit cards. The scam begins when a victim receives a call claiming to be from their bank. The caller ID even reflects the bank’s correct phone number, as it has been spoofed or faked by the fraudster. The caller/fraudster then tells the victim that potentially fraudulent transactions have been posted to their account, and they are calling to verify them. The fraudster then communicates a list of fake transactions which the victim will identify as not theirs. The […]
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