Abstract-- Is there something phishy going on?

You bet there is. The Federal Trade Commission reports that Internet scammers casting about for people's financial information have a new way to lure unsuspecting victims: they go "phishing." Phishing is a high-tech scam that uses spam to deceive consumers into disclosing their credit card numbers, bank account information, Social Security numbers, passwords, and other sensitive personal information.

According to the Federal Trade Commission (FTC), the latest phishing scam involves emails that claim to be from regulations.gov, a Web site where consumers can participate in government rulemaking by submitting comments. The emails' subject lines typically read "Official information" or "Urgent information to all credit card holders!" The message's text claims, "Due to recent changes in Rules and Regulations, it is required by Law for all Internet users to identify themselves in compliance with CFR (Code of Federal Regulations) to create a secure and safer Internet community." The email includes a link to a Web site that mimics regulations.gov and asks readers to provide their personal and financial information. This is where credit card fraud starts.

In fact, there is no law requiring all Internet users to register with the government. And regulations.gov does NOT collect financial information or charge consumers a fee for submitting comments. Consumers who provide their financial information in response to an unsolicited email could be at risk of identity theft.

Fraudsters pose as financial institutions, credit card companies and government agencies by setting up credible sounding e-mail addresses and credible-looking websites to obtain passwords and sensitive personal information from consumers. They might request that you update your information due to recent security threats. Be very suspicious of request to provide information a second time, especially if it is from someone that you have never heard from before.

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