Recent Phishing Scams

Recent Phishing Scams
Over the last few months, financial institutions have seen a varying profile of phishing attacks. Two interesting instances are reproduced below

North Georgia Bank Scam

 

In Chickamauga, GA a phishing scam targeted random residents on the day after Christmas.

 

Calls made by an overseas scam artist told some Bank of Chickamauga customers that “Your debit card has been restricted” and directed them to call a 1-888 number to lift the restrictions on their card.

“If they chose to give this number (their debit card number), then that gave the perpetrator of the scam permission to access funds (by computer) through that debit card and PIN,” says Gary Woods, an executive at the Bank of Chickamauga.

This scenario is similar to other phishing scams that have been seen since the last few months. The phisher made a series of random phone calls to the 375 phone prefix, Chickamauga’s prefix, and aimed it at Bank of Chickamauga’s customers. Any customer who gave up the information subsequently became a victim of the scam, says Woods.

The Federal Trade Commission took over the 888 number and put on its own recorded message to potential victims.

 

Iowa Credit Unions Scam

 

Nevada, Iowa residents began getting calls on Dec.28 from a scammer posing as a credit union. Local police say a scheme to get people to give out banking or credit card information is making its way through “caller ID spoofing,” which allows the scamsters number to appear as a legitimate business. River Valley Credit Union alerted its members to the scam with a fraud notice on its home page.

 

Members of the Collins Community Credit Union in Cedar Rapids, IA were hit on the evening of Jan. 4 with a similar scam. Cedar Rapids police officer Cristy Hamblin called it a “textbook” phishing scam. Hamblin says the credit union has had more than 20 calls from members who called the 800 number and released their information. Non-members also reported receiving the calls, Hamblin says.

It is very difficult for a customer to identify the origin of a call to find if it is legitimate or a scam. The following precautions should be taken by customers.

 

1. Never give out debit card / credit card information on a call that is received by you. Always choose to call back the bank before volunteering information.

2. When calling back, use the banks publicized call center number and do not use the number from where you received the call

3. Never reply to a email requesting for card information or click on the link in the email.

4. Last but not the least, always remember that a bank will never ask you for a card information either through a email or phone call.