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SCAMPULSE
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SCAMPULSE
If you know any contact information for For my security,, help other victims by adding it!
Total money lost $5,000
Type of a scam Employment
1) Through email communication(s), eventually you receive 20-30 pages of legitimate-looking corporate info in the guise of future employment by the company. The company’s information may even contain website links for you to check them out.
2) Part of the corporate info may even contain an application for a corporate credit card in the guise of you receiving it after your employment probation period. The company may even give you a phone interview to hire you asap.
3) Here’s the rub: If you are hired, the company would like to pay off one or two of your personal credit cards for you to use for company purchases (before your corporate card arrives, after your probation period). Then there is a big push for you to buy gift cards – none of the products featured in the corporate info. They definitely do not want any packages shipped – exposing a shipping address.
4) Suppose you have a credit card that has a $4,500 balance with a $5,000 credit limit ($500 credit available). Once the company has the name your credit card is issued to (not credit card number), they will provide a bank account# and routing# for you to personally pay off your card’s $4,500 balance. The company rep immediately wants the payment confirmation#. Note: At this point, you do NOT know the “name” on the bank’s payment. Credit card companies will accept a payment even though the “name” on the bank’s payment does NOT match the name credit card is issued to.
5) Within 12-36 hours, your card will show the bank payment of -$4,500, and, within another 12-36 hours, your card will have $5,000 credit available. Now, the company’s rep is really in hurry-up mode. You are now asked to buy $5,000 worth of gift cards, scratch them off, and email scans (of store receipts & back of gift cards) to the company rep ASAP. Your card now reflects a $5,000 purchase.
6) HERE’S THE HOOK: It takes typically 8-11 days for the bank payment to actually clear. That is, for the money to actually belong to your credit card company. In the meantime, your bank payment of -$4,500 is considered “on hold”. A couple of days after your $5,000 purchase, your credit card transactions will show a payment return of $4,500 (which the company rep authorized).
7) So, you try to tell the bank or your credit card company that you DID NOT authorize the payment return of $4,500. Yes, you have the bank account# and routing# but NOT the “name” used to set up the bank payment. For security reasons, the bank NEEDS that “name” so you can authorize any changes to the original bank payment of -$4,500 or the payment return of $4,500. Remember, the company rep set up the bank payment, not you. So, you will never be able to guess the “name” used.
8) So, once the bank payment return of $4,500 negates the bank payment of -$4,500, your card balance has jumped from its original $4,500 balance to a new balance of $9,500 – due to the $5,000 purchase. Also, gift cards that have been scratched off CAN NOT be returned to retailer.