Priya Patel
TLDR:
- Several major banks are warning customers to watch out for fraudulent withdrawals labeled “Jet Frog” on their credit and debit card statements.
- The scam appears to be spreading across Australia, although similar reports of Jet Frog withdrawals have been spotted in Europe and the US since 2021.
- Experts believe the fraudsters behind Jet Frog are likely using brute force attacks to guess potential debit/credit card numbers, which are then tested with small transactions.
- If customers see a Jet Frog transaction on their statements, banks advise them to contact the bank immediately to terminate the card in question.
News.com.au is reporting that several major banks are confirming the spread of a new banking scam that utilizes the unusual name “Jet Frog”. The scam involves fraudulent withdrawals that customers are being warned to watch out for on their credit and debit card statements. One of the first victims to speak out on social media reportedly spotted a pending Jet Frog transaction for $0, which is a sign of bad things to come. Another victim says the initial charge from Jet Frog was $0.99, followed shortly after by the unauthorized purchase of a $1,000 necklace. While reports of Jet Frog withdrawals have been mainly from Australia, there have been similar reports from Europe and the US dating back to 2021.
Experts believe that the fraudsters behind Jet Frog are likely using brute force attacks to guess potential debit/credit card numbers. These attacks involve utilizing computing power to test different combinations of numbers until they find a valid card number. Once a valid card number is found, the fraudsters then test the card with small transactions to determine if it is usable. If the transaction is successful, they may proceed to make larger unauthorized purchases.
If customers spot a transaction labeled Jet Frog on their statements, banks advise them to contact the bank immediately to terminate the credit or debit card associated with the transaction. By doing this, customers can prevent further unauthorized charges and protect their accounts from potential fraud. It is important for customers to monitor their bank statements regularly and report any suspicious activity to their bank promptly.
