Identity theft and phishing thieves are getting smarter by the day. Thieves know to take advantage of every situation and use it to their advantage. That's exactly what they're doing with the latest phishing scam that in costing Americans millions of dollars. Discover how to spot this scam and protect yourself before you become the next victim.
Bank phishing scam alert
You have to give them credit - thieves are smart and they leave no stone unturned. Case in point…thieves have netted more than ten million with their latest phishing scam. How are they doing it? They are taking advantage of the poor economy and bank closures the country is experiencing.
Here's how it works. Thieves know that many banks are in trouble. They know the bank customers worry their bank may be the next to fold. So thieves are taking advantage of this fear and sending fake emails and text messages saying just that.
Identity theft thieves get their hands on large amounts of cell phone numbers or email addresses. They then blast out thousands of text messages or emails that scare the victims into taking action.
These fake text messages state their bank is closing, assets are frozen, or the customer's card has been canceled. They claim the victim needs to take immediate action by clicking on a link in the email or replying to the text message. When you do this, you either are required to enter your PIN number, which gives them access to your account, or routed to a phishing website.
Phishing websites are set up with malware that can infect your computer and retrieve your personal information. This information is all thieves need to steal your identity.
Identifying phishing scams
Without exception, the message you receive will have a sense of urgency. Your bank will never send you a text message that requires you to enter any personal information, including your PIN number. If you get a message like this, call your bank directly or in person. Phishing emails often look professional, but many times, they will be sloppy or will have spelling or grammatical errors in them.
No reputable institution will contact you about important information with a text message or email. To avoid this phishing scam, never click or reply to these types of texts or emails. If you have concerns, contact your bank in person.
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