Consumer Fraud Warning
WARNING ABOUT UNAUTHORIZED BANK CHARGE SCAM NOT CONNECTED TO MEDSAVE.COM
February 7, 2008 - MedSave.com has received dozens of reports from people across the country of unauthorized bank charges that show up on their bank statements listing the name "Medsave" or "Medsav". We have learned that this is some type of consumer scam with no connection whatsoever to our business operations but the scammer is using a fake business name that is similar in appearance to ours in order to submit the fraudulent transactions to the credit card companies. This scam appears to have started in January 2008 and appears to be accelerating in recent days.
Details of the Scam - The most common complaint is an unrecognized VISA debit or credit card charge in the amount of $299 or $399. In some cases the charges were made multiple times. We believe that the victims are frequently people who tried to obtain credit from non-traditional sources. Some victims are members of U.S. military branches. The victims appear to be unaware of the source of the security leak that enabled the scam but there is no indication that they were shopping for the types of products offered by MedSave.com. The scam appears to follow a recognized pattern of operation that has previously been reported to law enforcement authorities in the past under different business names. We have no other information at this time. We have previously been in touch with the Better Business Bureau and the Pennsylvania Attorney General's office to clarify that this scan is not connected with out firm in any way. After investigation, both organizations concluded that we were not connected to the scam in any way.
Please be aware that:
- MedSave.com does not process any customer transactions and would not make any charge to a customer's bank account under any circumstances.
- MedSave.com does not have access to private customer bank or credit card information.
- None of the people who reported the scams were MedSave.com customers. All of the victims of the scam who provided more detailed information said that they were previously unaware of any business operating under the name "MedSave" so there is no link to our firm or any other firm legitimately operating under a similar name.
None of these fraudulent charges are connected with MedSave.com in any way. If you have an unauthorized charge on your bank statement then you should report the transaction to your credit card company immediately.
Security of MedSave.com and our affiliates - We have not received any report or complaint of any type of security breach or similar unauthorized charge problem with any of the insurance companies or the online enrollment processing systems that are supported by MedSave.com over our 10+ years of operation. You can continue to be assured that any of the legitimate online enrollment companies supported by MedSave.com have adequate and effective security measures. We believe that the strong track record of the insurance and employee benefits industry speaks for itself. While there are many threats to online security and identity today, we are please to reassure users that online benefits enrollment services like those used at MedSave.com are among the most reliable and secure of the entire commercial transaction system.