Common Scam and How to Avoid It

Identity thieves numerous scams to trick you into giving up personal information. Here is one common scam and how you can protect yourself from being a victim.

Phishing

The term phishing is pronounced “fishing” and is exactly that — except that the fish they are attmepting to reel in are you and me and not game fish, like salmon or striped bass.

Phishing is a way to get information by sending out spam e-mail to a large number of people. The e-mails usually request information by saying that your ATM/debit card number and PIN need to be verified by a Financial Institution. They say that they “lost your data” in an upgrade to their software program, which is done because of all the fraud that has taken place.

A link for a website is provided for you to type in your information. You are told in the e-mail that if you don’t provide the information, your account will be suspended.

When you click on the link in the e-mail, you are taken to a website that is not really the website of the institution mentioned in the e-mail. The site is set up for the thieves to capture your ATM/debit card number and PIN so that they can help themselves to your money.

Remember:  To avoid becoming a victim of phishing, just don’t reply to the e-mails being soliciting personal information no matter how convincing they may seem. Discard the e-mail and contact your Financial Institution and let them know about the scam.

Tip: Internet Scambusters, www.scambusters.org, lists all the known e-mail scams that are currently being distributed. You can also subscribe to a free e-mail newsletter that outlines the latest scams and is a monthly publication.

– Preventing Identity Theft for Dummies, Michael J. Arata , Jr.
Compliments of Intact Insurance

– Posted by Amanda Brash

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