Special Alert

October 26, 2011



ABA Warns About Phishing Scams
ABA yesterday warned consumers not to become victims of the sudden nationwide increase in phishing scams. Perpetrators are using automated dialers, text messages or e-mails to inform consumers their accounts have been closed due to fraud. Consumers then are prompted to enter their card information, including the expiration date and three-digit CV code on the card’s back to reactivate their accounts. Those who fall for the scam risk having their information used to fraudulently purchase goods and services or to obtain credit, the association said.

ABA provided several tips to avoid becoming a victim of such phishing scams. They include, among other things, never providing personal or financial information in response to an unsolicited phone call, fax or e-mail; not responding to e-mails that threaten dire consequences if personal information is not validated immediately; and contacting the company to confirm an e-mail’s validity using a telephone number or Web address known to be legitimate. Read more.