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Phishing and other Scams
Phishing is probably the most visible problem at the moment, it is a version of identity theft, that targets the customers of banks or payment accounts online with e-mails that look authentic. The email will direct them to spoofed site which look like the real bank site and ask for logons and passwords. Its success lies in the fact that it only takes a tiny fraction of customers to oblige the perpetrators.
It's been said customersare not wising up: the percentage of individuals fooled by fraudulent e-mails has risen to half a percent in the last six months which translates into 5,000 individuals giving account details away for every one million online customers.
For now, hackers, virus writers and more sophisticated outfits are one step ahead. However, you can be smart. Beyond the basics of up-to-date antivirus software and firewalls:
- Be aware that a bank or online payment account would NOT ask for passwords by email.
- Do not click on any link sent by email that directs you to a bank or payment account site that then asks for personal information.
- If in doubt, phone the bank and ask if they sent the email. Report the sites to them.
When phishing is put alongside malicious software, hacks, blended attacks, and so on, then it is obvious that this is a battle that ultimately cannot be won. We need to be smarter and tell everyone to be on the look-out for these scams.
OTHER INTERNET SCAMS:
Con artists no longer have to invest some serious money in printing, envelopes and postage. Now, with e-mail they are able to reach more potential victims at cheaper costs.
Good sites that provide info on scams are:
http://www.finaid.org/scholarships/scams.phtml
http://www.sec.gov/investor/pubs/cyberfraud.htm
http://www.crimes-of-persuasion.com
http://www.infomercialscams.com
Some common scams follow, if none of them have shown up in your e-mail in-box yet, trust me, they will.
PUMP AND DUMP scam: through internet bulletin boards and e-mails someone promotes a stock (called pumping). They send bogus third party information that appears to add credibility to their claims about a particular stock. Once more buyers drive up a stock‚s price, the promoter then dumps his shares and the price plummets before others have a chance to sell
THE NIGERIAN LETTER: Imagine getting an email letter from someone in a foreign country claiming to need a way to get 21.5 million dollars out of the country (the first country used in this scam was Nigeria, hence the scam‚s name).
He knows that you are trustworthy and if you will just send him your bank account information he will deposit the money in your account and give you 15% of the deposit.
Of course, after you give up the banking information the scammer empties YOUR account.
INTERNATIONAL LONG DISTANCE CALL: You open your e-mail box to discover a very official looking confirmation form for an order placed on your credit card. The charge, usually for a diamond or some other very expensive luxury item, can range from several hundred to thousands of dollars.
The invoice says to call if you have any questions. Of course you call the phone number in the letter to dispute the charges. When your next phone bill arrives you find you‚ve been hit with an outrageous charge for an international telephone call.
The scam: the perpetrators get a chunk of that toll call from the foreign phone company.
If you get one of these e-mail scam letters, whatever you do, don‚t contact the sender. Just delete the e-mail. Responding just tells them they have a live e-mail address.
THE LOTTERY SCAM: You get an email telling you have won the lottery of another country and to contact the sender for details on how to claim the prize. They want your bank account and other details. Trust me, you have not won, just ask the sender if you can go fly to collect your winnings (after all the plane ticket is a small expense for your winnings).
CHAIN E-Mail LETTER The sender claims that we can all get rich if you just send $5 to each of the 5 names at the bottom of the letter and then forward the letter on to two or three hundred other people.
The letter further states that this is a legal business since, in return for your $5, you will receive several legitimate moneymaking reports from those to whom you send money. Make no mistake, no matter what the guise used, chain letters do not meet the legal requirements of any state. You will just lose your money.