New Visa Scam

August 18, 2011

To: All Business Associates and Friends

From: Neil L. Wojtal

RE: Visa / MasterCard FRAUD

I received this information from a business associate today. I am passing it along to alert you to this potentially costly scam.

“This is a heads up for everyone regarding the latest in Visa fraud.

Royal Bank received this communication about the newest scam.

This is happening in the Midwest right now and moving throughout the U. S. 

This one is pretty slick since they provide YOU with all the information, except the one piece they want. 

Note, the callers do not ask for your card number; they already have it. 

This information is worth reading. By understanding how the VISA & MasterCard telephone Credit Card Scam works, you'll be better prepared to protect yourself. One of our employees was called on Wednesday from 'VISA', and I was called on Thursday from 'MasterCard'. 

The scam works like this: 

Person calling says - 'This is (name), and I'm calling from the Security and Fraud Department at VISA. My Badge number is 12460, your card has been flagged for an unusual purchase pattern, and I'm calling to verify. This would be on your VISA card which was issued by (name of bank). Did you purchase an Anti-Telemarketing Device for $497.99 from a marketing company based in Arizona?' When you say 'No', the caller continues with, 'Then we will be issuing a credit to your account. This is a company we have been watching and the charges range from $297 to $497, just under

the $500 purchase pattern that flags most cards. Before your next statement, the credit will be sent to (gives you your address), is that correct?' You say 'yes'. 

The caller continues - 'I will be starting a Fraud Investigation. If you have any questions, you should call the 1- 800 number listed on the back of your card (1-800-VISA) and ask for Security. You will need to refer to this Control Number. The caller then gives you a 6 digit number. 'Do you need me to read it again?' 

Here's the IMPORTANT part on how the scam works - The caller then says, 'I need to verify you are in possession of your card'. He'll ask you to 'turn your card over and look for some numbers'. There are 7 numbers; the first 4 are part of your card number, the last 3 are the Security Numbers that verify you are the possessor of the card. These are the numbers you sometimes use to make Internet purchases to prove you have the card. The caller will ask you to read the last 3 numbers to him. After you tell the caller the 3 numbers, he'll say, 'That is correct, I just needed to verify that the card has not been lost or stolen, and that you still have your card Do you have any other questions?' 

After you say no, the caller then thanks you and states, 'Don't hesitate to call back if

you do', and hangs up. You actually say very little, and they never ask for or tell you the card number. But after we were called on Wednesday, we called back. Within 20 minutes to ask a question. Are we were glad we did! The REAL VISA Security Department told us it was a scam and in the last 15 minutes a new purchase of $497.99 was charged to our card. We made a real fraud report and closed the VISA account. VISA is reissuing us a new number. What the scammers want is the 3-digit PIN number on the back of the card. Don't give it to them. Instead, tell them you'll call

VISA or Master Card directly for verification of their conversation. 

The real VISA told us that they will never ask for anything on the card as they already know the information since they issued the card! If you give the scammers your 3 Digit PIN Number, you think you're receiving a credit; however, by the time you get your statement you'll see charges for purchases you didn't make, and by then it's almost too late and/or more difficult to actually file a fraud report. 

What makes this more remarkable is that on Thursday, I got a call from a 'Jason Richardson of MasterCard' with a word-for-word repeat of the VISA Scam. This time I didn't let him finish. I hung up! We filed a police report, as instructed by VISA. The police said they are taking several of these reports daily! They also urged us to tell everybody we know that this scam is happening. I dealt with a similar situation this morning, with the caller telling me that $3,097 had been charged to my account for

plane tickets to Spain, and so on through the above routine. 

It appears that this is a very active scam, and evidently quite successful.” 

Pass this on to all your family, friends and business associates. We must help to protect each other against these thieves.

Wisconsin Estate Planning Tips Part 3

WILLS
by Neil L. Wojtal

 A Will is a written document that sets forth your wishes concerning the distribution of your estate, who will raise your children, whether your beneficiaries will receive your assets outright or through a trust and who will serve as your personal representative to see that your wishes are carried out. Anyone who owns assets and certainly anyone with minor children should have a Will. Without one, a guardian will be appointed for your minor children and a judge will decide who will have custody of your children. If one parent survives the other this may not be an issue, however, if both parents die at the same time, this process can be time consuming, expensive and create a lot of tension in a family. For instance if both sets of grandparents are living, there could be a dispute as to who should raise the children. You and your spouse may have a brother or sister who you would prefer to raise your children. If those wishes are not set forth in a written will they will not be followed by a judge.

Further complications arise if the deceased person has children as a result of different marriages. If you want your children from a previous marriage to receive part of your estate, you would need to cover that bequest in your will. In addition, if you desire to gift certain property such as your grandmother’s wedding ring for example, that specific gift could be covered in your will. You can also make it clear in your will that certain assets are to be distributed to a favorite charity or relative. All of your specific wishes can be addressed in your will so that there is no confusion as to your wishes and you will then have appointed a personal representative selected by you to see that your wishes are carried out.

There are simple wills that are legally valid contained in the Wisconsin State Statutes in Sections 853.55 and 853.56. In fact, Chapter 853 contains a lot of information that would enable a person to create their own legally valid will. However, as with the Powers of Attorney referenced above, these wills are very simple and may not fit your individual circumstances. If that is the case, you should have a will and powers of attorney for both health care and finance and property drafted by the Zimmerman & Steber Legal Group or another qualified attorney who will customize your will and powers of attorney to meet your specific situation and address your desires.

I hope that you will seriously consider putting these important documents in place to make your wishes known to your loved ones when you are unable to speak for yourself.

 When creating a will, the following tax consequences need to be considered. Consultation with a tax expert is advised before creation of a will to get the most favorable tax treatment for your assets and heirs.

Federal –

1. Estate tax imposed on estates of $5 MIL or more ($10 MIL for a couple) in 2011 and 2012. The amount will change to $1 Million or more in 2013 unless Congress acts.

2. Inheritance tax if amount inherited is over $3.5 Million.

3. Gift Tax – 2010 and 2011 exclusion is $13,000 annually per person. You can give away $5 Million in your lifetime without having to pay a gift tax.

 State of WI –

1. Estate Tax – none in 2011 or 2012 unless the legislature acts.

2. Inheritance Tax – None if person died after 1/1/1992.

3. Gift Tax – None after 1991.

Next Posting, Trusts Part 4