Phishing in the Little Ponds

You might think that phishing only happens to the big nationwide and international banks where there is a big pool of users to increase the chances of getting results. Not always true.

Bank of the Cascades in Bend, OR has fallen victim to a phishing scam. Many of their customers are getting an offer to pay them $100 for clicking a survey link. In about ten days, early this month, 13 customers have fallen for this and provided confidential information to collect their money. The bank has replaced the $15,000 taken so far.

The bank has a warning on their homepage and a link to good information for internet banking customers so they can avoid a loss.

Are you prepared to react to a phishing attempt at your bank? What will you tell your customers, the press, post on your web site, and what information will you provide your CSRs to handle these issues? If you don't have a plan, there is no time like the present.

77 Arrests -- $2 Billion in Bad Checks

The U.S. Postal Inspection Service said that 77 recent arrests are the result of and international crackdown on internet crime. Sixty arrests were made in the Netherlands, sixteen in Nigeria and one in Canada. Three of the suspects from the Netherlands and Nigeria were extradited to New York where they'll stand trial. U.S. authorities are seeking the extradition of five others. These arrests also netted more than $2.1 billion in fake checks that were destined for the financial industry. Susan Grant, vice president of the National Consumers League, said the average victim loses about $3,000 to $4,000 and is not aware they have liability when the U.S. financial system requires checks to be paid, even though the check may not have cleared yet.

"We shut down Internet cafes, we arrested scammers, and significantly disrupted the flow of fake checks into the United States," said Greg Campbell, U.S. Postal Inspection Service inspector in charge of global security.