Several major banks confirm the spread of a new banking scam using the unusual name ‘Jet Frog’.
News.com.au is warning millions of bank customers to look out for pending withdrawals labeled Jet Frog on their credit and debit card statements.
One of the first victims to speak out on social media reportedly saw a pending Jet Frog transaction for $0, which is a sign of bad things about to happen.
“I have never heard of it and had not ordered anything at the time of the complaint.
I googled it and the first result was a scam… they test your card and if it works they start charging on it.”
Another victim says the initial cost for Jet Frog was $0.99, which was followed shortly after by the unauthorized purchase of a $1,000 necklace.
The scam appears to be spreading across Australia, although similar social media posts about Jet Frog in Europe and the US date back to 2021.
As for how the plan works, experts say brute force attacks are likely.
These attacks use computing power to guess potential debit/credit card numbers, which are then tested with small transactions.
If you see a transaction from Jet Frog on your statements, the banks say you should contact them immediately to close the credit or debit card in question.
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