New Guide Warns Consumers about Internet "Phishing"

Regulatory agencies have published a brochure, Internet Pirates Are Trying to Steal Your Information, to assist consumers in identifying and preventing a new type of Internet fraud known as "phishing." With this type of scam, individuals receive fraudulent e-mail messages that appear to be from their financial institution. The messages often appear authentic and may include the institution's logo and marketing slogans.

These messages usually describe a situation that requires immediate attention and state that customers' accounts will be terminated unless they verify their personal information by clicking on a provided web link. The web link then takes the recipients to a screen that asks for confidential information, including:

• account numbers,
• Social Security numbers,
• passwords,
• place of birth or
• other information used to identify them.

Those perpetrating the fraud then use this information to access consumers' accounts or assume their identities.

The brochure advises consumers:

• If you're not sure the e-mail is legitimate, go to the company's site by typing in a web address that you know is authentic.
• If you think the e-mail message might be fraudulent, do not click on any embedded link within the e-mail. The link may contain a virus.
• Do not be intimidated by e-mails that warn of dire consequences for not following the sender's instructions.
• If you do you fall victim to a phishing scam, act immediately to protect yourself by alerting your financial institution, placing fraud alerts on your credit files and monitoring your account statements closely.
• Report suspicious e-mails or calls from third parties to the Federal Trade Commission either through the Internet at www.ftc.gov/bcp/edu/microsites/idtheft/ or by calling 1-877-IDTHEFT.

The brochure is on the Office of the Comptroller of the Currency's web site, www.occ.gov/consumer/phishing.htm.