Protecting ones self from the constant development of new scams requires consumers to be vigilant in protecting credit and financial information from getting into the wrong hands. The credit card industry in the United States alone has as estimated $8.6 billion in fraudulent charges annually. Fraud charges are responsible for substantial damage to consumer credit ratings.
In order to prevent some of these types of charges, consumers should stay educated on the types of threats and protections available to stop the fraud from happening. While they are constantly attempting new methods, here are some of the most recent and most popular methods crooks have been using in recent years.
The Phishing Scheme
Basically, a fake email or other communication is sent out, masked to look like its coming from a legitimate company. The thief will create a bogus website to look like the real thing, in an attempt to get the consumer to click on one of the links. Many times the next step will be a pop-up or warning message asking the consumer to update or confirm an account with personal information; Social Security number, account number and so on. The information they collect will then be used to access your accounts or establish fake accounts to charge with.
There are some signs to look for when encountered with email from companies. First, no reputable company will request any personal information via email. Here are some more signs to look for as clues to fraud.
- One key to a fake message is improper grammar, language, misspellings and generic language. Most banks and other large companies send out personalized messages. It is always wise to call the company if your not absolutely sure the message came from them. Better to be safe than sorry.
- Misspelled domain name/url is another clear indicator of a fraud attempt. You should also look for blurry or distorted company logo. In order to check the url, simply run the curser over some of the links to see what the url for those links points to.
- Never open an attachment. More often than not, the attachment will launch some type of virus or bug on your computer. Very seldom will a large company include attachments with the email they send.
- If they claim you’ve won some prize, but must first pay a fee to collect the winnings…a scam for sure!
Watch for the Vishing Scam
One of the newest ways scammers are attempting to gain consumers personal information is called Vishing. This style also uses email, but will ask for the person to call a phone number rather than click on a link.
Simple Security Tips to Protect your ID
1. Always be cautious with links contained in emails. This is equally true with any attachements received.
2. If your not sure the email is from the company itself, go to the site separate from the email.
3. If you visit a website from a email message, never provide financial or personal information in any way.
4. Do not ever pay a fee or make payment in any way to collect a winning sweepstakes or lottery.
5. Always review financial statements when you receive them. Varify that all charges are legitimate.
There are several ways of reporting a suspected phishing email. One is to forward the email to
spam@uce.gov, Federal Trade Commission. Also, report the attempted phishing to the impersonated bank or organization. A few other organization that will look into the suspicious activity is the Internet Crime Compaint Center of the FBI. You may file with them at
www.ic3.gov/. Finally, you may report to
reportphishing@antiphishing.org.