The Visa Report highlights emerging scams targeting consumers and travelers

A new report from Visa sheds light on the emerging issue Scams targeting consumers and Travelers, which include new twists on old tricks for cheating.

Visa's “State of Scams: Fall 2024 Biennial Threat Report” found a resurgence in physical theft over the past six months, with criminals using stolen payment information to buy gift cards or physical products that can be resold, or to transfer money using card numbers. for

A new style of physical theft, known as “”Digital PickpocketAccording to reports, has become increasingly common in the past year as well. Scammers steal by using a mobile point-of-sale device, which they tap into an unsuspecting customer's wallet to initiate a payment, often in crowded areas where communication may go unnoticed.

Michael Jabbara, SVP and Global Head of Visa Fraud Services, told Fox Business that, “Customers should be aware of their surroundings and guard against digital pickpocketing. Much like old-school pickpocketing, criminals prey on those who are distracted by what's going on. Around them, which Makes tourists prime targets in overcrowded areas.”

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“People should also consider turning on real-time purchase alerts for their accounts. That way, if they fall victim to a digital pickpocket, they can notify their bank immediately, helping not only themselves but also others who may be victims of scammers. Jabbara added. .

Scammers are also ramping up one-time-password phishing scams as a way to bypass two-factor authentication protocols aimed at preventing unauthorized access to accounts. Visa's report notes that scams have become more credible in part because of Generative's prevalence. Artificial Intelligence (AI) and its use to recover on victims to include more credible email or other communications.

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Cybercriminals are using fake airline websites to defraud passengers. (Photo by Annette Riddle/Photo Alliance via Getty Images/Getty Images)

Visa found that threat actors are also looking to capitalize on the busy travel season by exploiting consumers travel plans. The report notes that a common scam involves fraudulent websites that “spoof” or imitate major airlines and seek to lure consumers with cut-price deals, who make purchases and then overcharge for in-flight services before the scammer cuts through. . victim

Scammers are impersonating airline officials and sending fake cancellation emails that also request the person's payment information so a new flight can be booked.

Jabbara said that in addition to being aware of such scams, travelers should “be careful in crowded areas where distraction tactics are often used to steal items.”

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Travelers should be wary of impersonation scams by fraudsters posing as airline officials online as well as stealing their belongings. (Miguel J. Rodriguez Carrillo/Getty Images/Getty Images)

He also offers some best practices that consumers should follow to protect themselves from fraud and scams, as well as how to respond to theft when it unfortunately does occur.

“First, consumers should set up purchase alerts to monitor their transactions and quickly flag something amiss. Consumers should also set up. Two-factor authentication And protect any codes like they are passwords. Consumers should also keep themselves updated about the latest scams to be aware of what fraudsters are capitalizing on,” says Jabbara.

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“If consumers come across anything suspicious in their report, they should contact their financial institution immediately. After reporting fraud, updating passwords and making sure two-factor authentication is set up properly are important steps. If there's been theft, it's also Should be done. Local law enforcement will be notified,” he added.