Internet Financial Scams on the Rise

Recently, the following information was posted on WalletPop.com, courtesy of financial planners Ken and Daria Dolan. The scam-sharks are in the water in greater numbers now, thanks to the Internet. You should be aware of this timely information.

According to the Federal Trade Commission, there is a new round of e-mail scams out there that are tied to the financial crisis. Many of these e-mails "phish" for personal information -- your Social Security number, account numbers, passwords, etc. The scammer then uses that info to steal your identity. Proceed with extreme caution if you get an e-mail that purports to be from your mortgage company, a government agency, or other official institution. If the e-mail is requesting ANY personal information, you know it's a scam. No government or reputable financial institution will ask you to share confidential information in an e-mail.

Banking Crisis Scams

The banking crisis is presenting scammers with another golden opportunity. We're hearing numerous complaints about official-looking e-mails that claim to be from a bank or from the FDIC (Federal Deposit Insurance Corporation). These e-mails prey on your fears, claiming your bank is in trouble or that money has been stolen from your account. Most ask for your personal information, which they then use to steal your identity or illegally access your account. If you receive an e-mail from your bank requesting any personal information, contact your bank immediately and do not respond to the e-mail.