According to the Federal Trade Commission, the economic climate of the past year has contributed to new schemes from phishers who are intent on stealing your personal financial data.
Beware of Phishing Scams
At Auto Net Financial, we are in the business of helping consumers with bad credit finance a car, improve their credit histories and raise their credit scores with bad credit car loans.
We do this by matching up consumers with dealers that specialize in bad credit car loans. These same dealers accomplish this by utilizing a broad spectrum of subprime lenders. They are specialists in this field and they treat bad credit customers with the same courtesy and respect shown to all their customers.
But because we use our web site, www.autonetfinancial.com, to connect our applicants to these dealers, we are especially concerned about internet security. Our application is SSL-encrypted and all personal data is protected against those individuals looking to hijack it and use it for their own purposes.
Unfortunately, many of these criminals aren’t content to just sit by and wait for your information to come to them. In many cases, they devise elaborate schemes and go “phishing” (pronounced “fishing”) for it, themselves.
Here is what the FTC has to say about new schemes designed to elicit personal information from unsuspecting consumers:
Bank Failures, Mergers and Takeovers: A “Phish-erman’s Special”
If the recent changes in the financial marketplace have you confused, you’re not alone. The financial institution where you did business last week may have a new name today, and your checks and statements may come with a new look tomorrow. A new lender may have acquired your mortgage, and you could be mailing your payments to a new servicer. Procedures for the banking you do online also may have changed. According to the Federal Trade Commission (FTC), the nation’s consumer protection agency, the upheaval in the financial marketplace may spur scam artists to phish for your personal information.
Phishers (pronounced “fishers’) may send attention-getting emails that look like they’re coming from the financial institution that recently acquired your bank, savings and loan, or mortgage. Their intent is to collect or capture your personal information, like your credit card numbers, bank account information, Social Security number, passwords, or other sensitive information. Their messages may ask you to “update,” “validate,” or “confirm” your account information. For example, you may see messages like:
“We recently purchased ABC Bank. Due to concerns for the safety and integrity of our new online banking customers, we have issued this warning message… Please follow the link below to renew your account information.”
“We recently acquired the mortgage on your home and are in the process of validating account information. Please click here to update and verify your information.”
“During our acquisition of XYZ Savings & Loan, we experienced a data breach. We suspect an unauthorized transaction on your account. To ensure that your account is not compromised, please click the link below to confirm your identity.”
The messages direct you to a website that looks like the actual site of your new financial institution or lender. But it isn’t. It’s a bogus site whose purpose is to trick you into divulging your personal information so the operators can steal your identity and run up bills or commit other crimes in your name.
The FTC suggests these tips to help you avoid getting hooked by a phishing scam:
* Don’t reply to an email or pop-up message that asks for personal or financial information, and don’t click on links in the message – even if it appears to be from your bank. Don’t cut and paste a link from the message into your Web browser, either. Phishers can make links look like they go one place, but actually redirect you to another.
* Some scammers call with a recorded message, or send an email that appears to be from an institution, and ask you to call a phone number to update your account. Because they use Voice over Internet Protocol technology, the area code you call does not reflect where the scammers are. To reach an institution you do business with, call the number on your financial statements.
* Use anti-virus and anti-spyware software, as well as a firewall, and update them regularly.
* Don’t email personal or financial information. Email is not a secure way to send sensitive information.
* Review your financial account statements as soon as you receive them to check for unauthorized charges.
* Be cautious about opening any attachment or downloading any files from emails you receive, regardless of who sent them. These files can contain viruses or other software that can weaken your computer’s security.
* Forward phishing emails to spam@uce.gov – and to the institution or company impersonated in the phishing email. You also may report phishing email to reportphishing@antiphishing.org. The Anti-Phishing Working Group, a consortium of ISPs, security vendors, financial institutions and law enforcement agencies, uses these reports to fight phishing.
* If you’ve been scammed, visit the Federal Trade Commission’s Identity Theft website at ftc.gov/idtheft for important information on next steps to take.
For more tips from the federal government and the technology industry to help you be on guard against Internet fraud, secure your computer, and protect your personal information, visit www.OnGuardOnline.gov.
The FTC works for the consumer to prevent fraudulent, deceptive, and unfair business practices in the marketplace and to provide information to help consumers spot, stop, and avoid them. To file a complaint or to get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters consumer complaints into the Consumer Sentinel Network, a secure online database and investigative tool used by hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.
The Bottom Line – caveat emptor
Here at Auto Net Financial, we know that times are tough out there for consumers – many of whom are our customers. This is why it’s so important to be on the lookout for any type of scheme that involves divulging your personal information over the web. Do your homework before giving out any personal information. I know this saying is worn, but if it seems too good to be true, it probably is. As a consumer, you should beware.
