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Don't let Phishing Scams Tackle You
Phishing - pronounced "fishing" - is the latest form of identity theft. It is a scam in which thieves pose as representatives of organizations and try to lure the consumer into giving them personal information such as passwords, account numbers, and social security numbers. The scams are perpetrated by telephone and e-mail, although e-mail is more prevalent. The FBI is calling phishing the "hottest, most troubling new scam on the Internet". This type of scam was estimated to cost consumers $1.2 billion last year, according to research firm Gartner, Inc.
Often the thieves are posing to represent a financial institution, credit card company, online merchant, utility or other biller, internet service provider, government agency, or a prospective employer. Commonly they inform the consumer that there was problem with their account or a billing error and request their personal information to correct it. They may also say that they are updating their records or identified fraudulent activity on the account. To encourage immediate action, they threaten to close or cancel the account if there is no response. Most emails ask the recipients to follow a link that takes them to what looks like an exact replica of the organization's website, but is actually a counterfeit version of the website.
Unfortunately, by using the trusted brands of well-know and reputable organizations, phishers are able to convince 5% of recipients to respond to them, reported the Anti-Phishing Working Group. Gartner, Inc. states that more than 57 million Americans think they have received a phishing e-mail.
Tips on how to protect yourself from phishing and other forms of ID Theft:
- Be suspicious if someone contacts you unexpectedly and asks for your personal information. Most legitimate companies and agencies do not operate that way. Do not provide personal information via phone, e-mail, or otherwise unless you initiated the contact with a trusted partner.
- Do no click on links in e-mails that ask you to provide personal information. To check whether an e-mail or call is really from the company or agency, call the company directly to confirm.
- If you manage any of your financial accounts online, choose passwords that are difficult for others to guess and use a different password for each of your online accounts. Change the passwords frequently.
- Make sure the Web sites on which you transact business post privacy and security statements. Be sure to review them carefully. Do no send sensitive personal or financial information unless it is encrypted on a secure Web site. Regular e-mails are not encrypted. Looks for the padlock symbol on the bottom bar of the browser to ensure that the site is running in secure mode before you enter sensitive information.
- Check your monthly statements to verify all transactions.
- Check your credit report twice a year and examine it thoroughly. This will reveal accounts that have been opened without your knowledge.
- Shred or secure all documents with important identifying information on them, such as bank statements, credit card statements, pre-approved credit card offers and pay stubs.
If you receive such an e-mail or phone call, please report it directly to the organization that the phisher is posing to be affiliated with. You can also log on to http://www.antiphishing.org/consumer_recs.htm for additional information on how to avoid these scams and for a list of groups that these scams can be reported to. Have you been hooked into providing your personal information? If so, immediately notify the organizations with which you have accounts, contact the Federal Trade Commission's ID Theft Clearinghouse at www.consumer.gov/idtheft or call 877.438/4338, and be sure to notify your local law enforcement agency.
