Protect Yourself From the Latest Scams

Newspapers are full of stories about people who have been caught in wide-reaching and sophisticated Web scams. But not all scammers are using the Web. The newest schemes use simpler means to steal your confidential information—a phone call or an e-mail.

Phishing is where a bogus e-mail is used to get you to give up information, such as passwords and credit card accounts or Social Security numbers. The e-mail may link to a copycat Web site that deliberately uses a name or a Web address that’s deceptively close to your financial institution’s site. If you key in the data it requests, the operators of these fake sites will use it to steal from your accounts or put charges on your credit or debit cards.

Vishing is when a caller uses an automated dialing system. The voice system may use phrases such as, “Please contact us immediately about the closing of your account.” The caller will try to trick you in to calling a toll-free number. But that number belongs to a thief, who will collect the financial information you will be asked to enter on your phone’s keypad, like your 16-digit card number.

Targets are Random

Scammers rely on new technologies to give them a large pool of potential victims. They’ll use computer software that can dial a large number of phone calls in sequence to the general public. The goal is to get information about a few credit card or debit card accounts in a broad sweep. Often, they have no idea where the recipients have financial relationships. Or what credit cards they have. They are hoping, if they keep phishing or vishing, they will hook some.

Be on guard

Phishing and vishing rely upon taking advantage of your comfort zone. Take measures to protect your sensitive information:

• Never give personal or financial account information over the telephone if you did not initiate the contact—even if the caller has some of your personal information. Simply hang up.
• Be suspicious of any e-mail that’s short or harsh in tone or contains grammatical errors. Delete it immediately.
• Be suspicious of any phone or e-mail contact that does not use your first and last name.
• Be cautious when asked to enter information into automated phone prompts.
• Avoid clicking on links from unsolicited e-mails.
• Never dial an unfamiliar return phone number received from an e-mail or phone call regarding any financial matter. Check your financial institution’s phone number listed on your account statement or back of your credit card.
• Report suspected fraudulent calls or e-mails to the Federal Trade Commission at www.consumer.gov/idtheft. Forward phishing e-mails to the Anti-Phishing Working Group at reportphishing@antiphishing.org.

If you think you’ve been caught in a phishing or vishing scam, contact your financial institution immediately. For Tower, report suspicious e-mails or phone calls to abuse@towerfcu.org or call the Member Service Center at 301-497-7000 or 800-787-8328.