E-mail and Internet Fraud
FDIC has issued FIL-27-2004 to give guidance to institutions on safeguarding customers against e-mail and Internet fraud schemes. While the guidance does not contain much in the way of details, it does contain guidance on what the institutions can and should do to help their customers. The FIL encourages financial institutions to provide information and advice to consumers. You have several convenient and affordable ways to do this, including statements on statements, statement stuffers, website warnings, and lobby information.
Always encourage customers to notify the bank and/or the FDIC when they believe they may be the target of an attempted fraud. Empower your customers by sharing information about the latest fraud attempt with other customers. And advise customers to never respond to e-mail or telephone solicitations asking for information about their accounts.
Why do this? If your customer falls for a fraudulent scheme, it may end up hurting the bank as well. The smarter the customers are, the safer your institution is.
Copyright © 2004 Compliance Action. Originally appeared in Compliance Action, Vol. 9, No. 3, 4/04
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