Avoid a Scam Called "Phishing”

It goes by this name because the perpetrators are "fishing"for your personal financial information. Elizabeth Owen, executive Director of the National Association of Consumer Agency Administrators, says this scam is difficult to detect because it starts with what looks like an e-mail from a known company such as AOL, Citibank or eBay. In the subject line it says, "Important information about your account."Most of us will take a peek.

The company logo looks official, but after you’re directed to disclose account numbers, passwords and pin numbers, you might have second thoughts. They claim they need this information to update software or prevent identity theft, and then they turn around and clear out your checking account. You can be robbed while sitting in the comfort of your own home! Five percent of those contacted fall for the scheme, which law enforcement officials say is impossible to completely eliminate.