How does phishing work?
The term phishing (FISH-ing) refers to a scam thieves attempt to undertake to steal victims’ personal financial information. Most often the scammer sends an e-mail to thousands of people asking for information such as Social Security numbers, credit card numbers, bank account numbers, and personal identification numbers (PINs). Although it seems obvious, the trick to phishing is creating a counterfeit Web site of a trusted financial or other company Web site to which the unsuspecting consumers are directed. The subjects of these e-mails are often “Account Information Update Required” or other phrasing that suggests that the account with the “spoofed” company has been compromised or will be canceled. The counterfeit Web sites register the data entered by the victim and scammers can then use this information to commit fraud and steal the victim’s identity by charging purchases and opening new accounts.
Phishing works by creating a phony email or website that appears to be legitimate, thereby providing potential victims with a false sense of security. They trick the recipient into providing sensitive information, which may later be used to commit fraud, whether it be Identity Theft, or purchasing goods using your card information.
Phishing works by making an e-mail or web site appear to be legitimate, thereby providing potential victims with a false sense of security, while simultaneously creating a sense of urgency for immediate action to prevent cancellation of an account. Back to Top • How do I protect myself? • Consider whether the company would be likely to ask you for the kind of information being requested. Keep in mind, you do not need to give a company with which you have a business relationship your personal information. The company should maintain that information in their secured records. If you are at all in doubt about the authenticity of the communication, do not respond to the information request. Instead, contact the company through familiar communication channels (e.g., the phone number provided on your billing statement or credit card). • Do not click on a link in an e-mail when you are not sure of its legitimacy, even if it looks genuine. • If you feel your American Express account informatio
