ISPCA charge on credit card: What we know
Many people are reporting receiving small transaction charges on their Costco CIBC Card account from an “ISPCA” with some numbers behind it, which appears suspicious.
Know that, Fraudsters typically conduct a small dollar transaction to determine whether a card is active. When it is approved, they immediately sell the numbers on the black market. When you see small unknown transactions on your card, it’s usually a sign that the card has been compromised, and you should lock it as soon as possible.
“These small transactions might be signs that someone has learned your account information and is using it to commit a crime,” said Michael Benardo, manager of the FDIC’s Cyber Fraud and Financial Crimes Section.
“That’s why it’s important to be on the lookout for fraudulent transactions, no matter how small.”
He added, “When thieves fraudulently obtain someone else’s credit or debit card information and create a counterfeit card, they might test it out with a small transaction — like buying a pack of gum or a soda — to make sure the counterfeit card works before using it to make a big purchase. If this test goes unnoticed by the true account holder, thieves will use the card to buy something expensive that they want or that they can easily sell for cash.”
However, After some digging, the only information we could find about the ISPCA was “The Irish Society for the Prevention of Cruelty to Animals (a charity operating in the Republic of Ireland that promotes animal welfare)”.
ISPCA charge on credit card: How to protect yourselves
Keep an eye out for small transactions that you don’t believe you’ve conducted or authorized.
The best way to detect this type of fraud is to thoroughly review your bank and credit card statements on a regular basis to look for transactions that you did not initiate.
If you have online access to your bank and credit card accounts, it is a good idea to check for suspicious activity on a regular basis, perhaps weekly.
If you see a transaction that you did not authorize, contact your bank or credit card company right away and request that it be reversed.