The con artists instruct the victims to report their monetary loss to the bank and the bank will reimburse the legitimate funds. The account holder’s legitimate funds are also stolen and the money or gift cards are never received. Multiple deposits are made and the criminal withdraws as much money as possible before the bank detects the fraudulent checks. Counterfeit or forged checks are deposited into the accounts. The thieves use the bank information to gain access to the account. The victims are promised money, gift cards and other enticements to divulge their bank account and debit card numbers, and personal identification number (PIN). There are different variations of ‘card cracking’ but the main objective is to gain access to personal banking information. The goal of this scam, as with all scams, is to benefit the con artist by stealing from the victim. They are targeted through emails, online web sites and ads. Could you use some extra cash? It’s quick! It’s easy! But, it’s illegal! College students and other young adults are the primary targets of a scam called ‘card cracking’.
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