The Credit Counseling Professionals

Phishing Scams: Protect Yourself From Phishing

Criminals Take Advantage of Vulnerable Consumers

Over the past several weeks, America’s financial landscape has been changing quickly and radically. Banks are failing, stocks are dropping, companies are merging, and the consumer is left wondering what will happen to them. They are rightfully confused, but this is exactly the kind of environment where scammers attack. Scammers are “phishing” to take advantage of vulnerable people who may be unaware of exactly what is happening with their financial institutions. The technique is nothing new, but the current state of our financial system makes it even more effective for criminals.

“Phishers” send out emails and automated phone calls posing as representatives from a company that has acquired your bank, lender, or mortgage company. They’ll ask you to “verify” or “update” your account information. They may even warn you that they’ve experienced a “data breach” and that your account is in jeopardy. The truth is that they aren’t affiliated with your bank or any other financial institution, and they’re not trying to help you. They’ll use your personal information to run-up bills and empty your account.

The emails and phone messages will direct you to websites that the scammers have built to look like those of your financial institution. This is where they will try to collect your information, but don’t be fooled. They may look authentic, but the scammers have made them that way to trick you. If you’re unsure about the status of your bank account, loan, or mortgage, call the company directly. Do not follow web addresses or phone numbers that are given to you by emails and automated phone messages.

Use the following tips to protect yourself from phishing.

• Don’t reply to emails or pop-up messages that ask for personal or financial information, and don’t click on any links to other websites.
• Don’t send your personal or account information in an email. It is not a secure means of sending private information. This includes account numbers, PIN numbers, social security numbers, and passwords.
• Review your financial statements to check for unusual or unauthorized activity.
• Use your previous statements to find the phone numbers and emails to contact your financial institution with any questions or concerns.
• Forward phishing emails to spam@uce.gov, and to the institution or company impersonated in the phishing email. You can also report phishing emails to reportphishing@antiphishing.org. The Anti-Phishing Working Group, a consortium of ISPs, security vendors, financial institutions and law enforcement agencies, uses these reports to fight phishing.
• If you’ve been victimized by phishing or any other scam, visit the Federal Trade Commission’s Identity Theft website at ftc.gov/idtheft for important information on what steps to take.

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