PHISHING: Will you take the bait?

Be on guard for the latest
e-mail scam

“Phishing” is a term coined by computer hackers who use e-mail to fish the Internet hoping to hook you into their latest scam. A hacker sends an e-mail to a user falsely claiming to be a legitimate institution in an attempt to scam the user into surrendering private information that will be used for identity theft.

According to FCSSW President and CEO Gary Dyer, “We are providing this article in The BottomLine to help raise our members’ awareness of the problem. You can be assured that we will never ask you for personal information, such as your Social Security number, via an e-mail.”

Here's how phishing works

• You receive an e-mail from a financial institution or other organization where you have an account. The e-mail looks similar to other communications that you’ve received from the organization.
• You’re asked to go to a special Web site to update account information, such as passwords or bank account numbers, which the legitimate organization already has.

The Problem

The e-mail is from a scam artist, and the Web site is bogus and set up to steal your identification and eventually your money.

How do scam artists know you have an account with a particular organization?

They don’t. But by posing as a large institution with millions of customers, the "phisher" counts on the e-mail being ready by a percentage of people who actually have accounts. Phising is a variation on "fishing," the idea being that bait is thrown out with the hopes that while most will ignore it, some will be tempted into biting.

How to avoid being a victim

Here are two tips to help you fight back against this fraud:

1. If you receive an e-mail asking you to verify account information, either don’t respond to the e-mail or telephone the institution to ask if the e-mail is legitimate. (Obviously, don’t use any address included in the e-mail. You can search the Internet to find the institution’s Web site and “Contact Us” phone numbers.)

2. Enter an incorrect username and password on the Web site. If the site is fraudulent, it will accept your false password, which should act as a big red “STOP” sign for you.

Online communication is a fast, convenient tool. But we can all become a bit lax with it. Always be cautious about what you reveal online.

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