Internet Phishing & Security Risk Update

While the Internet is a valuable tool that few of us can live without, Internet piracy exists and it is up to each of us to beware & safeguard our privacy.

Internet piracy is called “phishing”. Thieves “fish” for personal information like account numbers, social security numbers, passwords and other confidential information. Generally, thieves send emails that appear to come from reputable companies like your financial institution. They warn you of a problem with your account and ask you to click on a link to update your account information. NO REPUTABLE BUSINESS WOULD ASK YOU TO DO THIS. If you receive an email like this deleted it without opening any links. What to do if you are a victim

Keep your Wireless Deveices Safe
Fraudsters are now sending text messages to Credit Union and other financial institution members' wireless devices to lure them into giving personal information. Because wireless devices use SMS, a communications protocol, to send text messages, this is called "Smishing."

Credit unions across the country are reporting that their member's are receiving unsolicited text messages.In Smishing, the latest form of phishing, the members receive a text message via cell phone warning that their bank account has been closed due to suspicious activity. It then tells them they need to call a certain phone number to reactivate the account.

Unsuspecting callers who dial the number provided in the text message will be taken to an automated voice mail box that prompts them to key in their credit card or debit card number, expiration date, and PIN to verify their information.

If you have a question concerning your account or credit/debit card, contact your financial institution using a telephone number obtained independently, such as the phone number from your statement, a telephone book, or other independent means.

Thieves are always updating their tactics to “bet the system” and Community Financial is committed to keeping you informed with these alerts.

The Anti-Phishing Working Group recommend that consumers:

• Do not reply to the unsolicited e-mail or respond by clicking on a link within the unsolicited e-mail message.
• Contact the actual business that supposedly sent the e-mail through a secure Web site or a phone number they know to be legitimate.
• Enter personal data only on Web sites known to be legitimate and secure—look for a “locked padlock” in the browser or “https” at the beginning of the Web site address for proof of security.
• Update anti-virus software and security patches to system software regularly.
• Check statements regularly, verify all transactions and notify financial institutions immediately of suspicious transactions.
• Forward suspicious e-mails to the Federal Trade Commission at uce@ftc.gov or file a complaint with the FTC at www.ftc.gov or by calling 877-ID-THEFT.

Click here for printable information on phishing and how to protect yourself.

ATM Fraud on the Rise @ PIN Terminals

A recent rash of fraudulent attacks on credit unions and banks has left consumers angry, with some complaining they have lost thousands of dollars in their accounts after thieves used stolen bank account data to withdrawal cash at ATMs, according to a report on MSNBC.COM. Thieves used counterfeit cards to access money from ATMs. The attack also affected some of the biggest U.S. financial institutions, including Bank of America and Citibank.

Avivah Litan, an analyst for Gartner, an information technology research firm, told MSNBC.COM, the attack was “the absolute worst hack that has happened”. Litan predicts that PIN theft will be the next major trend in fraud. Several banks have said that the criminals obtained the sensitive data from a third-party company and then used that data to steal funds. The Secret Service is currently investigating the incidents and looking into potential data leaks.