It's an ugly truth, but some scammers target those who are most vulnerable. Right now, a particularly cruel scam is making the rounds—one that preys on trust, exploits fear, and creates a sense of urgency.
Scammers are impersonating banks, government agencies, and even the so-called "Federal Secret Service". They call unsuspecting victims and claim their bank card has been compromised.
According to these fraudsters, the customer must leave their card in the mailbox along with their PIN so it can be collected and disposed of securely.
The scammer then collects the card, and just like that, the victim's account is drained.
Funds cannot be retrieved in most cases, so here's what you need to know.
How card collection scams work
Typically, they start with a phone call from someone claiming to be from your bank or a government body. The caller ID may even look legitimate, thanks to number spoofing.
Then, the scammer uses the fear tactic. They tell you your card has been compromised and that it’s been cancelled to protect your money. If they're good at what they do, they'll sound professional and reassuring.
You'll be asked to write down your PIN and place your card in your letterbox for collection or to be picked up by someone. Some variations of the scam ask victims to withdraw cash and leave that outside instead.
Finally, the scam escalates to full-blown theft. The fraudster collects your card, and with your PIN, they empty your account. In cases where cash is left outside, they simply take it and disappear. Most of the time funds cannot be retrieved.
Red flags to watch for
Your bank will never, under any circumstances, ask you to provide your PIN or leave your card in a mailbox. Ever. If that's what someone on the phone is requesting, you can be sure it's a scam.
In addition, keep an eye out for these red flags:
- Scammers will pressure you to act fast. They rely on fear and urgency to stop you from thinking critically. If someone is rushing you, it's a bad sign.
- They might spoof real phone numbers. Even if the caller ID says it's your bank, don't trust it blindly. Hang up and call your bank's official number instead.
- Scammers often tell victims to keep the call private or avoid contacting family or friends.
What to do if you get one of these calls
First, do not follow the scammer's instructions. Even if you're not sure whether it's a scam, your best bet is to err on the side of caution.
Here are some steps to take:
- Hang up immediately
- Contact your bank directly. Use the phone number on the back of your card or the official website. Do not use a number the caller provides.
- Warn your family and friends. The more people know about this scam, the fewer victims it will claim.
- Report it to Scamwatch and your bank.
Protect yourself and your loved ones
If you have vulnerable family members, take a few minutes to have a conversation about phone scams. Let them know that:
- Banks never ask for PINs or cards to be left outside
- Government agencies don't call people demanding urgent action over the phone
- If they ever feel unsure about a call, they should hang up and check with a trusted family member before taking any action.