Several major banks are confirming the spread of a new banking scam that utilizes the unusual name “Jet Frog”.
News.com.au is warning millions of banking customers to watch 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 spotted a pending Jet Frog transaction for $0, which is a sign of bad things to come.
“Never heard of them, nor had ordered anything at the time of the charge.
Googled it and the first result was a scam… they test your card and if it works, start blasting charges to it.”
Another victim says the initial Jet Frog charge 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 stretch back to 2021.
As for how the scheme works, experts say brute force attacks are likely.
These attacks utilize 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, banks say you should contact them immediately to terminate the credit or debit card in question.
