Cut the Line on Phishing Scams

There is a new type of phishing out there, and it doesn’t require a rod or a reel. This type of phishing is a scam that uses emails to steal information from consumers.

How it Works

Most commonly, the scammers will try to pass themselves off as a financial institution such as Citibank, VISA, or Bank of America. They use authentic logos in the email and even provide phone numbers for you to call to verify the need for this information. The email will threaten to suspend or even cancel your account if you don’t supply the requested information, which may include social security number, date of birth, mother’s maiden name, or address. They don’t, however, only use financial institutions to mask their operations; retail stores, such as Best Buy, have also been used in these phishing expeditions.

Don’t Fall Hook, Line, and Sinker

The emails are sent out just like any other spam, blindly mass mailed to every address they can find. This is often the first way these phonies are spotted. Consumers who have no accounts with Citibank, receive an email telling them their account is about to be suspended. Luckily, this tips off a number of consumers that something is wrong. If you do get one from a company that you have a relationship with, look over the entire email. Most of the time, the phone numbers provided in the fakes won’t be 800 numbers and will take you offshore or to a call center set up by the phishers. Also know that most companies and financial institutions constantly warn their consumers that they will never ask for personal information through email. If you really think there might be a problem and your account is about to be frozen, call the company using a phone number provided on the back of your card or on your account statement. If it is a retail store, go back to the website and use the customer service number listed there.

Better Bait

The phishers are getting more clever as people become more educated about these scams. Now they often provide links in the email that take you directly to the website of the company they are masquerading as, except that when you get there, a new pop-up window appears on your screen requesting the desired information. Once submitted, you are able to do what you need to on the company’s website, but the pop-up sent your information directly to the phishers. To avoid being hooked by a phisher, always use a phone number you know to be valid, not one provided in the email, to verify the need for the information. Also, it is a good idea to type in the web address of the company you are trying to use yourself, so you don’t run the risk of going to a fake website or being netted with a pop-up.

What to do if You’ve been Caught

When this information is collected, it gives the phishers access to your bank accounts, credit cards and other financial records. As if this isn’t bad enough, most of these criminals don’t stop there, they go on to steal your identity. For more information on identity theft click here.

If you find an example of phishing in your inbox,  report it to Call For Action by email at office@callforaction.org and the Better Business Bureau.

For additional resources, visit our partners VISA and the Better Business Bureau.