Attention Dealers: Credit card scam alert
nencoin
Posts: 1,312 ✭✭✭✭
Credit Card Scam Alert
We are suddenly experiencing an influx of online credit card orders for gold coins. All orders are requesting shipment via FedEx. The shipping/billing addresses are matching with the cards provided. The couple of "customers" we called went straight to voicemail with no voicemail set up. These orders are coming from all around the country. They are all being paid for with Visa cards from Wells Fargo, so perhaps there was a recent data breach. Be careful!
Chris
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Comments
That’s awful, scary. Thanks for the warning.
Thanks for the warning
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The ability and willingness of this community to share information like this has probably saved people millions. Good man for sharing!
How do you or what makes you think that there is a problem?
If the name on the card matches and the funds are available what's the problem, educate me
Mike
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@alaura22 OP has not said yet, but here are possibilities:
1. Credit card is stolen, billing address is fake and checkout system just doesn’t verify it. ( I’ve noticed this can happen with our own customers through Shopify. They email and say “whoops, entered an incorrect billing” but their order went through no problem)
OP should google the addresses, try to match buyer names etc.
2. Some bad actor at FedEx faked the orders and plans to intercept the packages near OP (this seems very unlikely).
Or 3. OP is wrong about it being a scam and it’s just a coincidence. (Also seems unlikely)
In any case the similarities are suspicious. Like OP, I’d want to speak with any of those “buyers” before shipping.
I also like to point out that it is now December and many reward credit card holders are trying to meet or exceed their reward threshold for certain status levels prior to 12/31, like Delta Platinum or Diamond. What better way to meet those thresholds and status while enjoying the newly purchased gold and silver.
I can't say for sure that anything nefarious is happening but it is that time of year.
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The scam may be the phone contact to confirm the order dumping to non-working voicemail.
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I assume you mean that's evidence of a scam, not the scam itself. But it could also be that someone changed phone numbers. After I canceled my land lines, one of my credit cards had that number for YEARS.
All comments reflect the opinion of the author, even when irrefutably accurate.
Another potential scam could be a redirect once in the mail/UPS/Fedex stream. Picture a stolen cc with an order showing the correct billing address, and the delivery address is changed once the order is shipped.
Sudden influx of orders. All requesting the same shipper, all using a credit card from the same issuer. Before even being unable to verbally confirm any of the orders.
Definite problem. And the problem is, when it turns out to be fraud, the vendor will be on the hook if they don't do the due diligence @nencoin did, and just say "name good, funds available, no problem."
NJCoin nailed it.
It seems it's an all time job staying ahead of the crooks
Gezzz
Mike
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It could be plain identity theft. Credit card and bills going to address and person there accepting and paying for awhile. saying they were JoeBlow for awhile.
A year ago I got a call from Wells Fargo wondering if I called to open a credit card with an Atlanta Georgia address. I told them I had never been there nor lived there. They said it got flagged because so many new cards applied for with same address, I always wondered how long it could go on if they paid and made many small donations to Act Blue or something. How many people actually get a copy of their credit report?
I'd google the address of a couple of these orders. If a commercial mail drop, definite fraud & I'd call Wells Fargo, explain the situation and alert them to the issue.
You didn't confirm it is a scam, only suspicious.
When gold and silver move together, it signals the coming end of fiat money.
100% scam. Probably another ten or so orders came in, same mo (same email format, same bank of issue, same shipping method, same types of coins). Phone numbers no good, no one asking why hasn't their coin hasn't shipped, and of the few we played along with, no one provided references. We simply started canceling orders as they came in, and once we did that, the crooks went away.
where do the addresses go... similar places?
No, that's the most interesting part. I feel it has to be an organized ring. These addresses were all across the country.
I ran across a dealer during the last wave of these fraudulent orders who wanted a copy of my DL. I was a little bothered by it, so I called them. It was an interesting discussion (and it was in their T&C for new remote customers to provide).
They had just opened their online store. Of their first 50 orders over a nominal threshold, most were for one-ounce gold coins. My order was the first collector coin order. And my order was the ONLY legit order. 1 of 50!
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Not too suprized. In this bull market scammers like u boats closing in. Watch out.
I try just to do just cash and carry. I might take a check up to $50 but with all the scammers out there….everybody knows cash is still king.
After all people are at a money show.
People wanting buy gold with CC Lol? A big red flag! Now Jimmy might take cc if they not above his risk limit of $120 but he will charge the heck outta them.