Don’t get hooked by bank phishing scams

The UK suffered the greatest number of phishing attacks globally last year as criminals used UK banks as bait for unwary consumers.

‘Phishing’ attacks on consumers who formerly held accounts at major banks that have now merged or been taken over as the result of the banking crisis continues to be a problem in 2009.

Equifax, the online credit information provider, warns consumers to ignore emails asking them to update their banking security details, even if they appear to be genuine. Consumers should take heed of Equifax’s top tips on avoiding email scams to protect themselves from fraudsters.

“Again fraudsters have found a sneaky way of extracting personal information from unexpected consumers by asking them to reconfirm their details as a result of a merger, but it is essential that people don’t respond,” explains Neil Munroe, External Affairs Director of Equifax. “Phishing is a bogus email which appears to be from an official source such as a bank. The receiver is then asked to follow a link that asks for and provide personal information such as a bank account PIN or password.
“Fraudsters think nothing of taking advantage of a bad situation for their own gain, which is precisely why consumers need to be cautious. Phishing scams look legitimate, but a real bank would never ask customers to confirm security information in this way. We advise anyone who has received emails like this, to delete them immediately and never reply to them.

“Anyone who thinks they are a victim of phishing should tell their bank and obtain a copy of their credit file to look for signs of unauthorised activity. Keep an eye on all your accounts to stop fraudsters in their tracks. Ignoring the problem is the worst thing people can do as it can affect their credit record and they may have difficulty obtaining credit in the future.”

Munroe concludes, “Fraudsters are increasingly finding new ways to extract money or steal an identity due to the economic downturn so every form of online activity should be considered very carefully. And it’s not just financial services – consumers need to be careful about what they put on social networking sites and ensure they use privacy policies fully, especially given the Facebook security breaches, which have been reported over the last week.”

To help protect them, Equifax has compiled a simple list of steps to stop personal data being used by the fraudsters:

Top tips on avoiding email scams

Look out for emails that begin “Dear customer”, rather than using your name

Your bank will never ask you to reveal your PIN or passwords in full

Look out for bad spelling or English, these emails often come from abroad

Never click on a link in a dubious email

Never give out personal information

Delete phishing emails immediately

If you have been a victim tell your bank immediately

Sign up for a service like Equifax Credit Watch to alert you of any fraudulent activity

Equifax Top Tips for Using Social Networking Sites

Don’t include common verification such as your date of birth or your mother’s maiden name

Set up privacy on your profile so only close friends can view your information

If you are going on holiday or you will be left in your home alone, don’t put it on your site. This could leave you vulnerable to break ins

Potential partners and employers are often searching names on these sites. Don’t put anything on your site which could ruin your chances of a new job or boyfriend/girlfriend

Be wary of anyone you meet on these sites. The photo may be deceptive and they may have different intentions