Phishing... Don't Get Hooked!

By Jeanine Bader
April 20, 2007

Notice: There are multiple new phishing scams going on right now that have affected many Utah residents at many financial institutions. We encourage you to be extra vigilant in understanding and using the advice in this short article.

Phishing - Pronounced "fishing" is now a common form of identity theft. It happens when thieves act as if they are representing a reputable organization and try to "hook" a consumer into providing personal information which they then use to steal the victim's identity or to access and use their account information. Once a consumer falls for this scheme, the thieves can do continuous damage.

Thieves often pose as a financial institution, credit card company, on-line merchant, internet service provider, government agency or prospective employer. The thieves contact their victim either by phone or internet and inform the victim of the need to provide personal information. They use scenarios like "We're updating our records" or "We have lost information due to a computer problem". They have even used "We've identified fraudulent activity on your account," then they encourage people to act immediately and sometimes threaten with fees or the closure of accounts to get the victims to provide their personal information.

It is very important to never respond to unsolicited emails or phone calls that direct you to divulge personal identifying information. Reputable organizations, including Deseret First Credit Union will never ask you for your account numbers or passwords unless you initiate the transaction.