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You receive an e-mail promising to put you first in line for a discounted version of Apple’s much-anticipated iPad. To receive the hot new gadget, all you have to do is enter your address and credit card number.
Well, if you put in that address and card number, an iPad and other electronics purchases may indeed be charged to your credit card, but rest assured: none of the items purchased will ever make its way your doorstep. Rather, scammers ship the products overseas and sell them on the international black market for a pretty penny.
Hot new products are popular targets for credit card phishing, so not surprisingly, Apple’s new iPad has become a prime target for phishing scams. Consumers have long been warned not to fall for e-mails or ads dangling the promise of free or deeply discounted products in exchange for their credit card number and personal information. However, for many the promise of getting Apple’s hottest new product at a discounted price proves to be just too tempting a bait.
In addition to being a new, hot-ticket item, the iPad is a U.S. electronic device, and in foreign countries, American electronics—especially those manufactured by Apple—fetch up to $1,200 more than they do domestically, offering thieves the opportunity to pad out, so to speak, their already fat pockets.
Credit card fraud is on the rise, and each year, cybercriminals make off with a greater bounty. According to the Internet Crime Complaint Center, 2009 saw an increase of over 22 percent in online fraud as cybercriminals absconded with more than half a billion dollars from companies and individuals.
In short, protecting yourself from credit card fraud and phishing schemes is more important than ever. To stay one step ahead of phishing scam artists and other credit card fraudsters, follow these precautions:
1. Be wary of any e-mails that fail to address you by name. Phishers can easily copy and paste the logo of banks, companies, financial institutions, etc. into their e-mails. However, it’s unlikely they will have access to an individual’s name or other personal information. If an e-mail, which appears to be from a trusted bank or card company, begins with “Dear Customer” or “Dear Cardholder,” it’s likely to be a scam. E-mails from personal banks and financial institutions will always contain some information, such as a name or partial account number, unavailable to outsiders.
2. Watch out for e-mails that contain attachments from unknown senders, they are likely to contain spyware or a virus. Also be wary of hyperlinks; these may connect to phishing sites posing as a trusted bank’s.
3. The content of an e-mail can also indicate whether or not it’s phony. Phishers often use fear tactics to scare victims into giving out personal information. E-mails, which state that your account will be closed unless you take action or that credit card theft or other illegal activity around your account have occurred are some of the more common scare tactics.
4. Be alert to spelling or grammatical errors, as well as unusual turns of phrase. Awkward sentence constructions are a sure sign that your e-mail address has fallen into the hands of international scammers.
If an e-mail appears to be a scam, forward it to the company it purports to be from to help them track the cybercriminals and protect their account holders.
As a rule of thumb, don’t give out credit card numbers or other personal information online unless the identity of the company can be verified. No matter how deeply discounted that “NEW! Reduced Price iPad” appears to be, it’s not worth the risk of falling victim to credit card fraud.
