Go Phish - Protect Your Identity

Using ‘spoofed’ e-mails and fraudulent websites, phishing attacks attempt to fool recipients into handing over credit card numbers, user names and passwords, social security numbers, etc. With this personal financial information in hand, they can steal both your identity and your money. The emails and websites can look VERY real, including the logs and slogans you’d find on the real site! Don’t be fooled! The holiday season provides Phishers with fruit ripe for the picking. You need to protect your assets from these pervasive scams.

Don’t think you can be fooled? Well, according to The Anti-Phishing Working Group (http://www.antiphishing.org) 5% of recipients respond to these false messages asking account holders to update or confirm their personal profile. No surprise considering that these emails and websites look just like the real thing!

The average phishing scam lasts 6.4 days but in that time the thieves acquire enough info to make them a fortune and drain your personal financial resources. What’s an unsuspecting consumer to do? Think defense and become a bit of a cynic! If you receive an email from your ISP, bank, or any online retailer, keep these tips in mind…

First of all, remember the lesson your parents taught you as a child: "Never talk to strangers". In regards to email, consider each and every sender a stranger no matter how familiar the name. For goodness sakes, I consider messages from my parents as suspect if they contain an attachment or link! Get a little cynical but don’t get paranoid. You can consider most messages safe and innocent. Just use common sense and run all available safety tools such as virus scans and anti-spyware (you can download a free version from companies such as Yahoo and Lavasoft). For instance, Yahoo email has the ability to scan a message that contains an attachment for viruses before you download the item. Most email providers have a similar tool; use it. It can save you from much frustration as well as preserve your financial well-being.

Secondly, know your vendors. None of your vendors (credit card issuers, banks, online partners such as E-bay and Pay Pal) will ever ask you to confirm personal financial information via an email. The financial arena represented 86% of the hijacked sectors in July 2005 according to the Anti-Phishing Working Group. PayPal, Suntrust Bank, Ameritrade, Bank of America, and E-bay represent some of the compromised brands – familiar names so you tend to respect and trust the messages they send you especially when the email tells you they will suspend your account if you don’t respond ASAP! Trust me, no respectable vendor would ever ask you to confirm information via email unless you initiated the process (such as when you change your password, a vendor might send you an email to confirm you made the change). If you get a suspect email, contact your vendor directly by opening a new browser window and contacting the company via the URL you type or report it.

Thirdly, remember to be cynical about any unsolicited correspondence or contact you receive from any vendor. For example, I recently received a phone call from the "Fraud Department" at a major credit card issuer. He wanted to confirm very personal financial information over the phone. Being the cynic I am, I told him no way! I asked for his name and how to contact him through the toll-free number on the back of my credit card. He willingly gave his extension. Then I called that number on my credit card and asked for the Fraud Prevention Unit (not his extension!). When I got through to an agent, I asked for this individual by name. The person who answered the phone transferred me to the original caller. My skepticism cost me about 60 seconds of my time but when I reached this individual I could feel confident I had a legitimate contact at my credit card issuer. He had never had anyone question his legitimacy but realized that I had a point in not trusting an unexpected incoming call. He had learned a lesson that he planned on sharing with his family and friends who could fall prey to scams.

Fourth, read ALL of the tips found at the Anti-Phishing Working Group regarding how to avoid this type of scam. To access this info click here. Don’t skimp on the effort to educate yourself. Take the time to read through all the tips as well as explore the latest trend report.

It’s your money. It’s your financial reputation. Protect it with a little skepticism and a bit of common sense (apply this sensibility to online transactions, phone calls, and hardcopy mail received). The Internet offers a wide range of safe ways to buy and transact commerce online. Don’t let the thieves steal the show! Follow the guidelines as outlined by the Anti-phishing Working Group. These tactics can keep your bank accounts and other financial information safe. Remember, most online firms want to conduct legitimate business with you and your referrals. Take a little precaution and you should enjoy positive outcomes!