What to Know About Phishing Scams
The term “phishing” (as in fishing for confidential information) is a type of consumer fraud that refers to a scam that encompasses fraudulently obtaining and using an individual’s personal or financial information. A consumer receives an email which appears to originate from a financial institution, government agency, or other well-known entity. The message describes an urgent reason you must “verify” or “re-submit” personal or confidential information by clicking on a link embedded in the message. The provided link appears to be the website of the financial institution or other agency, but in “phishing” scams, the website belongs to the fraudster or scammer.
Once inside the website, the consumer may be asked to provide Social Security numbers, account numbers, passwords, or other information used to identify the consumer (like maiden name of the consumer’s mother or consumer’s place of birth). When the consumer provides the information, the fraudsters can then begin to access consumer accounts or assume the person’s identity.
These criminals send out millions of emails hoping that even a few will give away valuable information. And, they often threaten dire consequences if consumers don’t act immediately. Please know that your financial institution or any government agency will not be asking for confidential information in this manner. If you suspect that an email or website is fraudulent, please report this information to the real bank, company, or government agency, using a phone number or email address from a reliable source. For example, if your bank’s website page looks different or unusual, contact the bank directly to confirm that you haven’t landed on a copycat site set up by the bad guys. You may also contact the Internet Crime Complaint Center (www.ic3.gov), which is a partnership between the FBI and the National White Collar Crime Center.
If you think that you have been a victim of identity theft, maybe because you submitted personal information in response to a suspicious, unsolicited email or you see unauthorized charges on your credit card, immediately contact your financial institution. It may be necessary to close existing accounts and open new ones. You can contact the police and request a copy of any police report or case number for later reference, and you’ll want to call the three major credit bureaus (Equifax at 800-525-6285, Experian at 888-397-3742, and TransUnion at 800-680-7289) to request that a fraud alert be placed on your credit report.
Education is a powerful weapon in the fight against “phishing”. Follow these tips to avoid becoming a victim: never give out personal or financial information in response to an unsolicited phone call, fax or email, no matter how official it may seem. Do not respond to emails that warn of dire consequences unless you validate your information immediately. Check your credit card and bank account statements regularly and look for unauthorized transactions. Look for the padlock or key icon at the bottom of your Internet browser – most secure Internet addresses (though not all) use “https”. Report suspicious activity and contact your bank immediately if you have responded to a “phishing” email.