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Criminals Target Dormant Credit Card Accounts

Criminals Target Dormant Credit Card Accounts - The Beacon


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By: Michael

Criminals Target Dormant Credit Card Accounts

Think those credit cards you are no longer using are off limits to con artists? Think again!

Your dormant accounts might be the most susceptible to fraud. Work on a strip mall came to a halt after contractors were arrested for their role in a scam. Consumers were taken for more than half a million dollars as an employee took dormant accounts that businesses had lost track of, manipulated the accounts, created new credit cards and asked accomplices to use the cards. Multiple contractors were arrested. Many of them were recruited as runners to purchase equipment used for building materials.

The contractors would buy construction equipment and either sell it or use it on their projects. In all, there were 50 victims. When postal inspectors caught the mastermind behind the scheme, she confessed to compromising 30-40 dormant accounts. Postal Inspectors have the following advice for consumers:  If you have accounts that are dormant or unused, get them closed. Also check your credit report, which may indicate any unused or dormant accounts in your name.

Read more tips on credit, finance and safety at the Tri-State BBB Web Site.

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Michael is our Business Information Specialist and will be writing at least one article per week for the consumer education blog. He works with accredited businesses to ensure we maintain current contact information and licensing. He is usually first to answer the phone; so odds are good you will be speaking with him when calling our office.