Scammers make use of various lesser-known merchant names for descriptions to cover the unauthorized charges. Cosmortumbl is one such name of a business entity based in Singapore that is hardly known and has a minute online presence, which is now being spoiled by scammers and where numerous credit card holders are confused after seeing a charge on their statement with this name.
They have a million tricks and as soon as their one is caught or reported, they already have 3 new ones ready to execute and this makes them nearly impossible to be caught unless they leave some strong digital footprint causing them to be tailed by an agency like FTC. Experts always suggest undertaking various safety tips which our banks suggest, but not considering them makes masses more prone to such frauds.
It’s most likely a fraud and I will help you understand what this charge means and how come it’s showing on your credit card. I have explained the steps below on how to track these charges along with steps to undertake to report this.
What Does The Cosmortumbl Charge Mean?
The “Cosmor Tumbl” charge on your credit card is most likely referring to a transaction made through a company known as COSMOR TUMBLR PTE. LTD, but the chances of this to be genuine are very less as COSMOR TUMBLR PTE. LTD company is an exempt private company limited by shares, incorporated on 6 April 2020 in Singapore.
The address of the Company’s registered office is 20A TANJONG PAGAR ROAD, SINGAPORE (088443). The company’s current operating status is gazetted to be struck off and they have registered their principal activity as retail sale of clothing for adults.
However, specific details about this company are not readily available, which clearly suggests that it’s a smaller company without any strong presence over the internet.
What Does The Cosmortumbl Charge Indicate?
Cosmortumbl Charge on your credit card clearly indicates that they are spam and unauthorized.
The scammers behind the charges have used a name that is less known and has almost zero presence over the internet because this will help them to confuse the victim and no early detection will happen.
This is an old trick used by fraudsters, as this largely helps them to confuse cardholders and they will have their time saved enough to run.
Possibilities: Why is The Cosmortumbl Charge Showing On Credit Card
Our research clearly believes that it’s an unauthorized charge showing on your credit card. There are various techniques and tricks used by scammers to steal your credit card and account information for further making unauthorized transactions, how this happen, and how could you save yourself is explained below;
Unauthorized Transactions
In every case we have been reported with, Cosmortumbl charges also have resulted in unauthorized transactions. Fraudulent activities, like identity theft or stolen card information cause such charges that cardholders hardly recognize, as they use some descriptions like Cosmortumbl which a genuine company would use.
Types of Unauthorized Transactions
Card Theft:
If your credit card has been physically stolen, someone can then use it to make purchases without your knowledge.
Card Information Breach
The dark web and its hackers can also obtain your card information (card number, expiration date, CVV) through breaches of online stores, point-of-sale systems, or malware on your device. They will further use this information to make online purchases.
Phishing Scams
Deceptive marketing emails or phone calls might also trick you into revealing your card information or logging into fake websites that steal your details.
Shoulder Surfing
While you are entering your card details at an ATM or store someone might observe you and use that information later.
Data Breach or Phishing
Scammers often obtain credit card information through data breaches or phishing activities. They often hack into databases of different online merchants or trick individuals into providing their credit card details via fake emails, websites, or phone calls.
Legitimate Name Use
To trick card holders and make unauthorized charges less noticeable, scammers bring in the use of names of less-known companies. This tactic provides them a chance to avoid immediate detection, leaving the card holder confused.
Small Test Charges
Scammers first start with small test charges, like a $1 or $2 transaction, to check if the card is active and if you notice the activity. Most people never notice such small amounts and they go unnoticed.
Larger Fraudulent Charges
After confirming that the card is active, then larger charges are made, disguised as legitimate ones.” These charges may times range from $20 to $100, which is done to match some typical rates of services and products and you become less suspicious.
Covering Their Tracks
Scammers also largely use online payment gateways or many third-party billing services that process payments for many merchants. This further makes it tougher to trace the charge back to them directly.
Spreading Out Charges
Another trick is that scammers also spread out the charges over several weeks or months along with using the name of different variations of the merchant name.
Disguised Contact Information
If you even attempt to reach out to the listed merchant, it will end up reaching a fake customer service line established by the scammers and this trick helps them in further delaying the detection and resolution of the fraud.
Clicking on Misleading Ads
This is the most common scenario in which many malicious ads disguise themselves as download buttons and when you click on them, it could unknowingly subscribe you to some service by making a small purchase.
How Do Cosmortumbl Charges Appear On Credit Cards?
Scammers are always learning and they know the patterns like the many merchants and what they tend to use like different charge descriptions that depends upon the payment and billing platform they are using, location, items, services, type of transaction, and mode customer access the services from, see below some different ones
- COSMORTUMBL 1234****5678 AUTH-ID: 8765 NET TXN
- COSMORTUMBL 9876****5432 INTL FEE – MERCHANT SGP
- COSMORTUMBL 5555****9999 APPR CODE: 4321 ECSPOS
- COSMORTUMBL 1111****2222 CNP TXN AUTH SINGAPORE
- COSMORTUMBL 4444****3333 REF: 56789 ONLINE SGP
- COSMORTUMBL 6543****2109 INTL POS FEE SGP
- COSMORTUMBL 7788****4455 AUTH-ID: 3321 ECSPOS
- COSMORTUMBL 9876****5432 SINGAPORE WEB TXN
- COSMORTUMBL 1122****3344 INTL PURCHASE FEE
- COSMORTUMBL 2233****5566 APPR CODE: 8765 POS
- COSMORTUMBL 3344****6677 CNP TRX AUTH SGP
- COSMORTUMBL 4455****7788 REF: 112233 ONLINE
- COSMORTUMBL 5566****8899 SG MERCHANT AUTH
- COSMORTUMBL 6677****9900 POS TXN ID: 654321
- COSMORTUMBL 7788****0011 MERCH ID: 98765 SGP
- COSMORTUMBL 8899****1122 INTL CHARGE FEE
- COSMORTUMBL 9900****2233 ECSPOS CODE: 4321
- COSMORTUMBL 1234****2345 AUTH CODE: 8765 TXN
- COSMORTUMBL 2345****3456 SG INTL POS FEE
- COSMORTUMBL 3456****4567 MERCH FEE SINGAPORE
- COSMORTUMBL 4567****5678 CNP AUTH-ID: 9876
- COSMORTUMBL 5678****6789 INTL APPR CODE: 1234
- COSMORTUMBL 6789****7890 TXN ID: 54321 SGP
- COSMORTUMBL 7890****8901 MERCHANT FEE POS
- COSMORTUMBL 8901****9012 SINGAPORE AUTH TXN
What To Do If You Didn’t Authorize The Charge
Our research clearly suggests Cosmortumbl charges as fake and unauthorized, further if you are sure that you don’t remember any such offline merchant, then they are most likely to be fraudulent activity and it becomes important to take immediate action. I have mentioned steps below you should follow;
1. Review Your Recent Transactions
Carefully review your recent credit card transactions to make sure that you haven’t mistakenly overlooked or forgotten. Verify if anyone else with access to your card might have made some purchase.
2. Alert Your Bank or Credit Card Issuer
Immediately contact your bank or credit card issuer to report the unauthorized charge. Most of the banks have a dedicated fraud department that shall assist you. Only use the phone number on the back of your credit card for quick access or visit physically.
3. Dispute the Charge
If you have ascertained the charge as unauthorized, file a dispute with your credit card issuer. You will have to provide details about the transaction and the reason for you to consider it as fraudulent. The bank might temporarily remove the charge while they investigate.
Make Sure You Follow Below Simple Steps Before Disputing a Credit Card Charge;
- Credit card companies or your bank will investigate disputed charges, so it’s advised to retrace your steps before you act.
- Make sure to go through all receipts from that timeframe to determine that you haven’t simply forgotten about a purchase you authorized.
5. Monitor Your Account
Keep a close and regular watch on your credit card statements and account activity for any further unauthorized charges.
6. Request a New Card
You must ask your bank or credit card issuer to issue you a new card with a different number, in order to prevent further unauthorized transactions.
7. Update Your Autopayments
After you have received a new card, remember to update your card information for any recurring payments or subscriptions to continue as earlier.
8. Report the Fraud
You shall report the fraudulent charge to your local consumer protection agency or the Federal Trade Commission (FTC).
9. Review Credit Reports
Review your credit reports to make sure there are no other similar signs of identity theft. You can request a free credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion) once a year at AnnualCreditReport.com.
10. Enhance Your Security
Always use strong, unique passwords for your online accounts, enable two-factor authentication where possible, and be cautious about sharing your credit card information.
Conclusion
Scammers have a tendency to use a single trick in different forms to loot the same victim again and again, if you don’t take the precaution and believe that it has happened now and it’s over, you are in danger.
Your information is still lying with them and you shall also make sure to secure your other bank accounts and cards by changing passwords, replacing cards, enabling 2FA, and going further you shall never try to use public wi-fi or any other device to log in to your internet banking.
Frequently Asked Questions
What Are Fees Charged On Credit Cards?
A transaction fee is a fee charged when making balance transfers, direct deposit or check cash advances, or other bank cash advances, such as ATM cash advances, with your credit card. A transaction fee may also be charged if you make a foreign transaction.
What Is Credit Card Surcharge In The USA?
The surcharge is often a percentage of the overall purchase cost and can range from 1% to 4%. These fees began to be passed on to consumers in 2013, following a class-action lawsuit that businesses and merchants brought against Visa and Mastercard in response to such costs.
How To Avoid CC Fees?
There’s an easy way to avoid finance charges like paying your balance in full each month, and you’ll never pay a penny in interest. If you just can’t help carrying a balance, then you should aim to minimize your interest charges by using a low-interest credit card rather than a rewards card.
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