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Thursday, August 12, 2010

Cash Back Scam Warning

I am hearing anecdotal reports of customers at major retailers being charged for "cash-back" requests they claim not to have made.

The way this scam reportedly works is as follows: The cashier keys in or punches in a code for a cash-back request. The request shows up on the receipt. The cashier often tries to delay giving a receipt unless the customer specifically asks for it. The illicit request results in the customer beig charged the higher, fraudulent amount, and the cashier swipes the difference (the false cash-back amount) from the register later.

This illustrates a larger point. Convenience has a price. When we sacrifice security - or choose to pay by credit/debit card instead of cash - for convenience or speed, we make ourselves vulnerable.

It bears emphasizing that customers paying cash are not vulnerable to this scam.

Sent from my Verizon Wireless BlackBerry

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