They’re still “Phishing” – Don’t Get Caught!

(Ms.) Jj,
Creative Director
Vision IPD

Identity theft, credit card and Internet fraud are constant themes in the news, because the thieves and scammers are constantly brewing newer and more sophisticated ploys. Only the least experienced Internet users, these days, are likely to fall for the old email scams like the so-called “Nigerian Letter” In this long running email scam, a wealthy foreigner (originally always from Nigeria) claims to need your help moving millions of dollars from his homeland to yours and says he will reward you with a hefty percentage of this fortune if you agree to assist him. Newer scams, called “phishing,” employ authentic-looking emails that ask the recipient to click on the included link to “update” credit or account information. Instead of linking to the financial institution the email appears to come from, the link connects with the thief’s site, where the unsuspecting victim willingly types in credit or identity information that is later used for fraudulent purposes.

However, the new breed of crooks and scammers can be clever enough to fool even experienced Internet users. A few simple precautions can save your (credit) reputation and your bank account.

I was recently surprised to read of a study that showed 28% of the surveyed consumers could not differentiate between legitimate emails and fraudulent “phishing” schemes. Not only did they fail to recognize bogus content, many of those surveyed incorrectly identified legitimate emails as frauds. If you would like to test your “Fraud IQ” we have provided a link on the Vision IPD website articles page to a survey similar to the one used in the study.

Researchers say that “phishing” is the fastest growing online scam. With 1.78 million Americans who know they have fallen for a fake email and willingly provided financial information to thieves, and an estimated 1 million users who may have done so and not realize it, it is estimated that about $1.2 billion has been stolen from US consumers in this manner.

If you have an internet domain, you may also be the target of a “phishing” attack. Early in the year, domain registrar /manager easyDNS.com reported that domain administrators were receiving emails that appeared to come from their domain name vendor requiring verification of registration information. Following the link in the message and supplying the requested information opened the door for the domain to be hijacked. With the information provided, the thief could easily reroute the domain to his site, on his servers and reroute the email as well.

To protect yourself:

1. NEVER EVER respond to or follow links in email relating to financial or other accounts

2. ALWAYS PRACTICE SAFE LOG-INS: Don't login to update account information using a link sent via email. Instead, login to accounts directly from your browser with the links you normally use to update account information. When in doubt, a search for the institution with Google or other major search engine, or a phone call to the institution, will provide you with a valid web address. The fraudulent sites do not exist long enough to make it into the search databases.

3. REPORT FRAUDULENT EMAILS to the institution and consider also notifying any of the organization that track online fraud. NOTE: just forwarding emails does not always include header information needed to track down where the message really came from. When reporting frauds, it’s best to start a new email, then drag and drop the fraudulent email into it. This will include the original fraudulent message as an ATTACHMENT, complete with all the info needed to track the perpetrators.

4. IF YOU OWN A DOMAIN, keep a record of your registrar URL, log-in and password and make sure to keep your account current. It’s especially important to keep your email address updated. Log in to our account periodically to make sure all info is correct and note when, and with what company, your registration needs to be renewed.

Despite the threat of fraud, by using these simple steps many consumers happily bank, shop and sell online. In 1999, six-million households used the internet for at least some of their banking; this year that number has risen to 35.3 million households -- Twenty per cent of Internet users. It is difficult to accurately track online purchases, but epaynews.com reports that in 2004 online retail sales amounted to $65 billion, with 30% of Internet users making online purchases that averaged $585. By 2008, Jupiter research estimate online sales will rise to $117 billion, with over half of the internet users taking advantage of the ease and speed of online shopping.

For a free consultation to see how your business can benefit from professional design services on the Internet or in print, contact Vision IPD Incorporated, PO Box 2497, Bangor, ME, 04402. phone 207.433.0687 or email vision(at)visionipd.com