The Internet gives you easy access to information, allowing you to perform many functions from the privacy of your own computer. Unfortunately it can also leave you vulnerable to online fraud. Online criminals continue to become more sophisticated in their scams to steal information from you. Learn more about the different types of online fraud in order to better protect yourself from falling victim to this type of criminal activity.
Following are some of the most well-known types of online fraud. The more you know, the better you can keep your computer and your private information secure.
Phishing
Phishing is the most common online fraud. Consumers are randomly targeted by criminals sending out mass emails usually containing an urgent message regarding account status, with instructions to click a link within the email directing them to a fraudulent website. Once the consumer clicks the link, he/she is exposed to the threat of having personal information stolen, including bank account information, user ids and passwords, and social security numbers.
Remember, Woodforest will never send out an email requesting personal information from customers! Regardless of how legitimate an email or website may appear, NEVER respond to any email that instructs you to provide ANY personal information.
Vishing
Vishing is the latest variation of the phishing scam. Vishing (a combination of the words "voice" and "phishing") often involves an automated recording made to a victim, alerting the consumer that their credit or debit card, or bank account has had fraudulent or unusual activity, followed by instructions to call a phone number immediately. When the victim calls this phone number, it is typically answered by automated instructions to enter credit or debit card information, bank account information or other private information such as PIN, date of birth, social security number, etc. Once the consumer enters this information, the criminal (visher) has the information necessary to make fraudulent use of the credit or debit card, or access to bank accounts.
Vishing is very difficult to monitor or trace. The vishing phone number can show up on caller ID as the name of the financial instituion they are pretending to represent. Be highly suspicious of ANY message directing you to call and provide credit, debit or bank account information. Contact your bank or credit card company directly to verify the validity of the message.
Malware
Malware (a combination of the words "malicious" and "software") is software that criminals use to access your computer without your consent or knowledge. Malware includes computer viruses, worms, trojan horses and spyware. Once malware is on your computer, criminals can use it to steal information, send spam, and commit fraud, as well as inflict damage to your computer system and software.
For more information about malware, including how to identify it and steps to take if you suspect malware is on your computer, visit OnGuard Online Malware Quick Facts.
Nigerian Email Scam
This email scam supposedly originated from Nigerian "officials" who needed your help getting their money which was tied up due to strife in their country. This scam is no longer limited to emails from Nigeria, but are commonly received from people in countries around the world sending you offers to transfer potentially thousands of dollars into your bank account if you will simply pay a fee to help them access their money. Typically these emails are followed by additional emails requesting you send more money to cover transactions and transfer costs, attorney's fees, blank letterhead, and most seriously, your bank account numbers.
If you receive an email from someone in a foreign country claiming to need your help getting money out of another country DO NOT RESPOND!
Cross-Border Scams
This type of criminal activity uses the Internet to steal through foreign lottery offers, money offers and check overpayment schemes. These solicitations are phony and illegal. Be aware that foreign solicitations such as these are from crooks trying to steal your money, or commit identity theft, and you should NOT respond to them.
For more information regarding cross-border scams, including how to identify them and steps to take if you suspec you have received or responded to one, visit OnGuard Online Cross-Border Scams Quick Facts.
