Card Cracking: What You Need to Know

January 26, 2023

by Christian Phillips

The expansion of social media platforms continues to provide opportunities for scammers to manufacture schemes to obtain consumer information. Frandsen Bank & Trust has examined an online trend where consumers are promised “easy money.”

[Definition]
What is card cracking?
Card cracking is an online solicitation that promises “quick and easy cash.” The consumer will be prompted to share debit card information, Personal Identification Number (PIN), and online banking credentials. Scammers will use Facebook, Instagram, Twitter, and Snapchat to spread card-cracking attempts. Scammers persuade consumers by promising “kickbacks” for assisting in the transaction.

Messages from scammers may read as the following:
- “Do you want to make quick and easy cash? HMU if you have an active bank account.”  

- “Hey, do you need extra cash? If you let me use your bank information to deposit my check, I will give you a kickback for helping. Let me know if you are interested.”

- “Do you need extra cash? HMU if you are serious about making a few hundred dollars.”

How does it work?
When the required information is given, scammers deposit fake or stolen checks using mobile banking services called “mobile Deposit.” The funds are then withdrawn at an ATM once accessible in the account.
When the bank notices an issue with the deposited check, the withdrawn money will be reimbursed to the financial institution. In response to the returned funds, the consumer will attempt to dispute the charges. Card cracking scams are difficult to dispute because the consumer willingly supplied bank information for “kickbacks.” Falsified reports may subject the consumer to co-conspirator allegations.

Quick tips:
  • Do not respond to unsolicited messages on social media.
  • Do not share online/mobile bank credentials
  • Do not share debit card information or PINs
[Final Thoughts]
If you receive suspicious messages from an account that claims you can make “quick and easy cash,” report the issue to the social media platform. Financial constraints do not excuse participating in card-cracking schemes.
For additional assistance, call 855.942.4248 to report “lost/stolen” cards.

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