Credit Union Warns of Phishing E-Mail

The Vermont State Employees Credit Union (VSECU) is warning the citizens to discard recent e-mails that claim to come from financial institutions, including VSECU and Citibank, and say that the recipient's credit card details has fallen into unauthorized hands, for it is a scam called "phishing."

The message, which asks the cardholder to click on a given link, lands him onto a Website where he is instructed to provide his card details. Many comply with such requests in the belief that the site belongs to their bank or any other trusted agency. But in reality, the site is fake that helps the fraudsters to capture the card details as soon as one enters the details.

The message also said that the recipient could alternatively dial a number to prevent his card from being deactivated. It further claims that the financial institution sending the e-mail aims at protecting the recipient's card from fraudulent use and one claims to be from VSECU.

Credit card fraudsters use all kinds of fraudulent schemes to steal card details from cardholders, and this involves a practice called 'phishing' in which e-mail is sent to the cardholders, posing to represent the recipients' credit card company.

Vermont State Police is investigating into the incident and has urged people receiving the e-mail not to answer it and do not call at the number given. According to them, if anyone who has shared personal information of bank accounts should contact local police as well as his bank immediately.

Referring to the scam, the credit union said that fraudsters make their ill-gotten money by entrapping people in their ploys; hence people should be careful and should not respond to such e-mails. The union also said that it has not sent the scam e-mail in question and that it would never solicit customers to reveal their private account information in this way.

And while phishing scams involving credit cards have been observed to increase rapidly, one such case included businesses and consumers receiving e-mails supposedly from HM Revebue and Customs in which an announcement of tax refund provided.

Related article: Credit Card Company VISA Straight on Phishers’ Target

» SPAMfighter News - 8/18/2008