eBanking

Online Security


Internet Pirates are Trying to Steal YOUR Personal Financial Information
But YOU have the Power to Stop Them

 

 Phishing - What is it and how does it work?
 How to fight Identity Theft

 What to do if you fall victim

 Additional Resources



 

 

 

 

Phishing

There's a new type of Internet piracy called "phishing."  It's pronounced "fishing," and that's exactly what these thieves are doing:  "fishing" for your personal financial information.  What they want are account numbers, passwords, Social Security numbers, and other confidential information that they can use to loot your checking account or run up bills on your credit cards.

In the worst case, you could find yourself a victim of identity theft.  With the sensitive information obtained from a successful phishing scam, these thieves can take out loans or obtain credit cards and even driver's licenses in your name.  They can do damage to your financial history and personal reputation that can take years to unravel.  But if you understand how phishing works and how to protect yourself, you can help stop this crime.


Here's how phishing works:
In a typical case, you'll receive an e-mail that appears to come from a reputable company that you recognize and do business with, such as your financial institution or a government agency.

The e-mail will probably warn you of a serious problem that requires your immediate attention.  It may use phrases, such as "immediate attention required," or "Please contact us immediately about your account."  The e-mail will then encourage you to click on a button to go to the institution's Web site.

In a phishing scam, you could be redirected to a phony Web site that may look exactly like the real thing.  Sometimes, in fact, it may be the company's actual Web site.  In those cases, a pop-up window will quickly appear for the purpose of harvesting your financial information.  In either case, you may be asked to update your account information or to provide information for verification purposes: your Social Security number, your account number, your password, or the information you use to verify your identity when speaking to a real financial institution, such as your mother's maiden name or your place of birth.
If you provide the requested information, you may find yourself the victim of identity theft.

 

 

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You Can Fight Identity Theft. Here's How:

Never provide personal financial information, including your Social Security number, account numbers or passwords, over the phone or the Internet if you did not initiate the contact.

Never click on the link provided in an e-mail you believe is fraudulent.  It may contain a virus that can contaminate your computer.

Do not be intimidated by an e-mail or caller who suggests dire consequences if you do not immediately provide or verify financial information.

If you believe the contact is legitimate, go to the company's Web site by typing in the site address directly or using a page you have previously book marked, instead of a link provided in the e-mail.

If you fall victim to an attack, act immediately to protect yourself.  Alert your financial institution.  Place fraud alerts on your credit files.  Monitor your credit files and account statements closely. For more information from the Federal Trade Commission on Identity Theft, please click here.

Report suspicious e-mails or calls to the Federal Trade Commission through the Internet at www.consumer.gov/idtheft, or by calling 1-877-IDTHEFT.

 

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What to do if you fall victim:
  • Contact your financial institution immediately and alert them to the situation.
  • If you have disclosed sensitive information in a phishing attack, you should also contact one of the three major credit bureaus and discuss whether you need to place a fraud alert on your file.  This will help prevent thieves from opening a new account in your name.  Here is the contact information for each bureau's fraud division:
     
    Equifax
    800-525-6285
    P.O. Box 740250
    Atlanta, GA  30374

    Experian
    888-397-3742
    P.O. Box 1017
    Allen, TX  75013

    TransUnion
    800-680-7289
    P.O. Box 6790
    Fullerton, CA  92634


  • Report all suspicious contacts to the Federal Trade Commission through the Internet at www.consumer.gov/idtheft, or by calling 1-877-IDTHEFT


The above information is provided by:

  • Board of Governors of the Federal Reserve System
  • Federal Deposit Insurance Corporation
  • National Credit Union Administration
  • Office of the Comptroller of the Currency
  • Office of Thrift Supervision

 

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Additional Resources

“How Not to Get Hooked by the ‘Phishing’ Scam,” published in July 2003, which is available
http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt127.shtm

Fighting Back Against Identity Theft 

http://www.ftc.gov/bcp/edu/pubs/consumer/idtheft/idt04.pdf

 

Free Annual Credit Reports
The federal FACTA law enables you to receive a free credit report per year from each of the three credit bureaus. (FCRA §612) This is over and above the free reports you can order when you place fraud alerts on your three credit reports. Once you have received your free credit reports as a part of the fraud-alert process, follow up in a few months by taking advantage of your free FACTA copy. We recommend that you order your free credit reports by phone rather than using the online system. Call (877) 322-8228

http://www.ftc.gov/bcp/conline/edcams/freereports/index.html

 

Defend Recover from identity theft
FTC regulations define an "identity theft report" to include a report made to a local, state, or federal law enforcement agency. If your local police department refuses to file a report and your situation involves fraudulent use of the U.S. mail, you can obtain an identity theft report from the U.S. Postal Inspector. If your case involves fraudulent use of a driver's license in your name, you might be able to obtain a report from your state's Department of Motor Vehicles. The FTC has more information on identity theft reports at
 
http://www.ftc.gov/bcp/edu/microsites/idtheft/consumers/defend.html

 

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Sample Letters

Debt Collection:


Financial Privacy:


Identity Theft:


Online Information Sellers

 

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