How Do You Know an Email Phishing Scam When You See One?

By Sandra Wilson

Email phishing is a very dangerous and potentially financially fatal trap that is sent via email from what appears to be a financial institution to an individual. Most of the phishing emails that one will receive are very easy to notice as fraud emails, but there are some that are very sophisticated and can take time to identify.

Basically, most email phishing scams are an attempt to gain your information, both personal and financial. With this information, the phisher can assume your identity in order to, for example, set up fraudulent accounts or he can just outright steal money from your banking or other financial accounts.

One type of common email phishing scheme is where someone from another country supposedly needs to transfer funds to a bank account in the U.S. He requests you please help him get his inheritance, or whatever he claims he needs, out of his country. You can do this by allowing him to put the money in your bank account and for this service, you will receive a percentage or set amount. To show good faith, a small amount of money will be transferred to your account. Looks good but the next thing you know, most, if not all, of your money will be drained out of your account. This scam works by addressing your greed - do next to nothing and get paid for it.

A much more sophisticated type of phishing email is one that appears to be from your banking institution. It will have all the right headers and colors and look very official. It will usually state that due to some problem, you need to go and update your personal information at their website. The email will even kindly present you with a link to the site. You click this and go to a site that looks just like what you would expect at your financial institution. However, if you do enter your login and password, you have just given the crooks what they need to get into your account at the real financial institution's website. Do NOT ever go to your financial institution's website through a link within an email. Just a sound piece of advice.

One of the most important things that one can do to help prevent email phishing is to report each and every email that one gets that appears suspicious. It is far better to be too safe with your identity and finances than not safe enough.