Fraudulent ‘Jet Frog’ Withdrawals Target Bank Accounts as Customers Urged to Stay Vigilant
A concerning new banking scam dubbed “Jet Frog” has been making its way across major banks, alerting millions of customers to watch out for suspicious activities on their credit and debit card statements. News.com.au has issued a warning, urging individuals to be cautious of pending withdrawals labeled “Jet Frog.”
The first victim of this scam shared their experience on social media after spotting a pending Jet Frog transaction for $0, which is often an indicator of fraudulent activity. Curiosity led them to search online, only to discover that Jet Frog is linked to a scam operation that tests the validity of stolen card details. Once confirmed, the scammers proceed to make unauthorized charges, exploiting unsuspecting victims.
Another victim reported a similar experience where a $0.99 Jet Frog charge was followed by an unauthorized purchase of a $1,000 necklace. Although the scam seems to be prevalent in Australia currently, reports of Jet Frog incidents have also emerged in Europe and the US, dating back to 2021.
Experts believe that the scam likely employs brute force attacks, where computing power is used to generate possible debit or credit card numbers. These numbers are then tested with small transactions to verify their validity. If customers notice any transactions from Jet Frog on their statements, banks advise them to contact the institution immediately to terminate the affected card.
With the Jet Frog scam gaining traction, it is crucial for individuals to remain vigilant and regularly monitor their card activity for any unusual or suspicious transactions. Taking swift action to report potential fraud can help minimize the impact and prevent further unauthorized charges.