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 Finance
Gone Phishing
As the holidays approach and more people are using
the Internet to do their shopping and to pay bills,
it’s a good idea to become familiar with a growing
problem called “phishing.”
Phishing is a term used to describe the action of
assuming the identity of a legitimate organization,
or Web site, using forged e-mail or Web pages to
convince consumers to share their user names, passwords,
and personal financial information for the purpose
of using it to commit fraud.
Phishing has quickly grown into one of the most frequent
and effective scams on the Internet. It works by
directing users to fake Web sites that trick them
into giving up personal information. Perpetrators
send e-mails asking for account verification or credit/debit
card details, or they mention attempted account hacking,
prize draws and account suspension. Some victims
have had their credit rating and financial livelihood
destroyed when their identity has been used to raise
capital, while others have seen their credit or debit
cards used by imposters to buy goods online.
Experts recommend consumers protect themselves from
phishing scams by entering Web site addresses into
their browser (rather than clicking on provided links)
and only calling numbers listed in the phone book
or on bank-provided credit cards or statements.
You can avoid becoming a victim by following these
simple rules:
- Treat all e-mail with suspicion. What you see
in the e-mail body, the sender’s address or return
address can be forged, and the e-mail header can
also be manipulated to disguise its true origin.
- Never use a link in an e-mail to get to a Web
page.
- Never send personal or financial information
to any one via e-mail.
- Regularly log into your online accounts — check
each one every three weeks.
- Scrutinize your bank, credit, and debit card
statements and ensure that all transactions are
legitimate.
- Ensure that all of your software is up to date.
For instance, if you use Microsoft Windows, run
Windows Update every day when you first connect
to the Internet.
The big problem is that phishing e-mails look so
official and real — they’re slick and well-designed,
using official-sounding language and real company
logos to make them look and feel authentic.
They appear to be from trusted banks, retailers, or
other companies. The e-mail often says the company
needs to verify your information, such as account
numbers or passwords, for supposed security purposes.
They try to fool you with an address “spoof.” In
more than 90 percent of cases, the e-mail address
looks like one from a real company. Although the
address in the “From” line of the e-mail may contain
a legitimate address, it conceals a scammer’s address.
Here are some questions to help you recognize phishing
e-mails and sites:
- What is the tone of the e-mail? Does it convey
a sense of urgency?
- What is the quality of the e-mail? Does it have
misspellings and bad grammar?
- Is the e-mail personalized with your name and
applicable account information instead of a generic
greeting?
- Does it ask you to fill out forms with your personal
financial information?
- Does it point to links in the e-mail, urging
you to click to “validate” or “confirm” your account
Unfortunately, no matter how careful you are, you
may end up falling prey to a scam. What can you do
if that happens?
If you think you’ve been scammed, you can file a
complaint with the Federal Trade Commission and the
Internet Fraud Complaint Center. But, most importantly,
the first thing you should do is to notify the bank
or credit card issuer of the account that has been
compromised.
If you’ve given away your Social Security number,
you should also notify the big three credit reporting
agencies — Experian, Equifax and TransUnion — so
that a fraud alert can be placed on your file.
Don’t let phishing ruin your holiday shopping plans.
Be sure to take the appropriate safeguards so that
the Grinches of the world don’t steal your holiday.
AAA CAN HELP
AAA offers an array of financial products and services
with exclusive rates and benefits designed especially
for members to help you with those added holiday
expenses. They include credit cards, auto certificates
of deposit, money market and individual retirement
accounts, and unsecured lines of credit. Visit
AAA.com for current rates and detailed information.
See AAA Financial products
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