Identity Theft - Phishing

Excerpt from Identity Theft, A Resource Guide

Phishing has become a more widely used method for identity theft recently, and many financial organizations have been forced to alert their customers to possible threats routinely. 

Most phishing scams start with a legitimate-looking email, usually from a financial organization.  The email may say something about your account needing to be updated or a similar message.  A link is included in the email to direct you to a page where you are asked to enter your user name and password so you can “update” your account with your bank or credit card company.  However, the entire thing – the email, the site, the message – is all fake.  When you enter the information, it is being saved by an identity thief who will either sell it to someone else or who will use it to take money from your account, make purchases, etc.  This book's appendix includes some examples of phishing emails that can more clearly illustrate these points.

If you receive an email, even from a trusted site, that asks you to click on a link, enter your password, and update your personal information DON'T do it.  Instead, contact the company by phone or e-mail to ask them to verify the legitimacy of the request.  You can also visit most companies' web sites for information about how to watch for fake emails.  For example, some companies will only refer to you in their emails by your actual name while the fake emails will be addressed “Dear User” or “Dear Member.”  If you do receive an email you suspect is an example of phishing, then forward it to the Federal Trade Commission (spam@uce.gov), the Securities and Exchange Commission (enforcement@sec.gov), the Anti-Phishing Work Group (reportphishing@antiphishing.org), and to the business from whom the email was supposedly sent.  Many companies have a specific address just for reporting these emails.

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The above is an excerpt from Identity Theft, A Resource Guide available from www.PCSecurityNews.com.  To recieve a free copy of this e-book, register here: www.PCSecurityNews.com/register.html.
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