Phishing and Identity Theft
Phishing:
Phishing is when someone fraudulently attempts to get your personal information posing as a legitimate financial institution, retailer or government agency. An example and the most commom form of phishing would be via email. However, text and voice message attempts have become more common, as well. A "spammer" (as term used for these offenders) will send out an email which they create to look almost identical to a legitimate organizations. They may use the company logo and create an email address very close to that organizations. Most of these fraudulent emails will ask you to click on a link to a Web site that would be almost identical to the organizations, once you've reached that Web site, they may ask you to login using your user name and password. Once you've done that, they have your information and will be able to access your accounts by creating cards with your information. It is important to note that if you do relinquish your information you may be liable for any losses incurred to your accounts.
Other forms of phishing scams are via text messaging on your cell phone and also voice messages on either your cell phone or regular phone.
How can we prevent this from happening?
- The problem with phishing is that financial institutions, retailers and government agencies cannot directly control it. Phishers are setting up fake sites and emails, and sending them out to thousands (in some cases millions) of consumers. There's really no way to address this problem without implementing new standards and software throughout the Internet. It is important to understand that data security at a financial institution or other organization is not compromised when these attempts to gain personal information from individuals are made. The only way information becomes compromised is if the individual falls prey to the scam and actually gives out their personal information.
- Since we can't prevent it from happening, the best way to minimize the impact is through education. If you ever receive an email like this, DO NOT CLICK ON ANY OF THE LINKS PROVIDED IN THE TEXT OF THE EMAIL MESSAGE. If possible, don't even open the email message - simply delete it, or add the sender to your blocked list - because it is obviously spam.
- DO NOT FORWARD CHAIN EMAILS. Often, chain emails are sent as a ploy for spammers to gather email addresses (they are sitting on the back end, collecting the email addresses of everyone you forward chain emails to). They then turn around and sell those email addresses to spammers who intend to launch phishing attacks, and other tactics of identity theft. When you receive chain emails, you should delete them and not forward them to anyone. By forwarding them to others, you are potentially exposing their email addresses to criminals, and opening them up to future attacks.
- For even more information about phishing scams and how they work, this link is a good place to start http://www.phishinginfo.org
If you have received an email message, text message or voice message claiming to be from City of Boston Credit Union and asking for you to give out personal, confidential information it is fraudulent, delete it immediately. City of Boston Credit Union, would never ask you to give your personal and confidential information through an email message, text message or voice message. If we initiate contact with you, then we already have this information on record and would have no need to ask.
IMPORTANT:
Credit Union Members: If you are a City of Boston Credit Union member and you have received one of these fruadulent messages and DID give out your personal information please contact the Credit Union immediately at 617-635-4545. If after non-business hours call 1-800-264-5578.
Non-Members: If you are not a City of Boston Credit Union member, received one of these messages and gave out your personal information, you should contact your Financial Institution immediately.
Identity Theft:
Identity theft has become an alarming problem which no one should ignore. To learn more about identity theft fraud safety visit www.idtheftcenter.org. If you think you've been a victim of identity theft contact the Federal Trade Commission (FTC) at 877-IDTHEFT (438-4338) or visit www.consumer.gov/idtheft. If you believe your Social Security Number is being used fraudulently contact the Social Security Administration at 800-772-1213.
It's a good idea to get a copy of your credit report each year from each credit-reporting agency. The three major agenices are:
Experian: www.experian.com; credit report copy - 888-397-3742; fraud unit - 888-397-3742
Equifax: www.equifax.com; credit report copy - 800-685-1111; fraud unit - 800-525-6285
TransUnion: www.transunion.com; credit report copy - 800-888-4213; fraud unit - 800-680-7289
Financial Education
Members Financial Network
As a City of Boston Credit Union member you have access to this complete network of financial solutions. Members Financial Network is available 24 hours a day, 7 days a week. Here you can research, analyze, invest and protect your money.
Plan It Retirement Ready Toolkit
Get ready for retirement with City of Boston Credit Union's Plan It: Retire Ready Toolkit. A free online resource that can help you plan for - and achieve - retirement security. Access articles, listen to audio clips, run "what if" financial longevity scenarios, and listen in on the financial conversations on PreRetiree Lane.
Money Mix: Launch Your Life
City of Boston Credit Union's Money Mix: Launch Your Life is a free collection of financial tools and articles geared specifically for the opportunities and challenges young adults are facing today. You can even discuss ideas and issues with peers on the interactive blog. Take advantage of Money Mix and unlock your potential!
Presidential Coins
From 2007 to at least 2016, the United States Mint will issue a series of circulating $1 coins featuring former U.S. presidents. New $1 coins will be minted at a rate of four annually in the order in which the presidents served.
Each City of Boston Credit Union branch will have a supply of these coins as they are made available to the public. Visit www.usmint.gov/$1coin for more information about the Presidential $1 Coin Program.
Vehicle Purchasing
Make sure you do your homework before you start to shop. Visit www.kellybluebook.com for details on features and retail values of new and used vehicles.
