What is phishing?

It’s when web sites and e-mails are used to trick victims into submitting personal, financial or password data (i.e. credit card numbers, bank account information, social insurance numbers, passwords).

Unsuspecting victims have received what they believed were official e-mails from their bank advising their account had been compromised and required immediate attention within 24 hours.

Usually a link to a phony website is attached where it takes them to a site that appears identical to an official one, where the victim innocently logs in normally with their account number and password.

What the victim doesn’t know is that the fraudster has just captured all their information, uses that information on the real banking web site and empties all their money.

Fraudsters spend a lot of time creating web sites that mimic the real ones. The most recent sites to be mimicked - NatWest heads the list. The emails purport to be genuine communications from NatWest and including credible logos and corporate colours. Citibank came second, with 27% of blocked emails of this type, followed by HSBC (11%), Abbey (6%), Lloyds TSB (4%), PayPal (2%), Royal Bank of Scotland (1%), Nationwide (1%), Halifax (0.8%) and MBNA (0.5%).

Make note that major banks will not send messages like the one mentioned, nor will they request your updated personal information or your secret pin in an e-mail. You’ll often notice that these fake sites have spelling mistakes and very basic information about you.

How to avoid and detect phishing:

• Protect your computer with anti-virus software, spyware filters, e-mail filters and firewall programs.

• Do not reply to any e-mail that requests your personal information.

• To check a valid web link, move your mouse cursor over top of a link, but don’t click on it. It should display the actual site address where you are being directed to. If it doesn’t, be cognizant it may take you to a fake site.

• If you suspect a fraudulent web site or e-mail, call the real business directly and speak to someone who can answer your questions.