Internet Rip-Off Is Growing - WLOX.com - The News for South Mississippi

08/13/04

Internet Rip-Off Is Growing

A scam to steal your money, is growing at an alarming rate. It's called ''Phishing," and in the last few months, the attacks skyrocketed by some 1,000 percent. Phishing is a bogus e mail, that appears to be from a legitimate business, typically a financial institution.

In most cases, it asks for confidential information, such as account numbers. The chief of security at Hancock Bank says he surprised at the number of people who have fallen for such a scam. ''I am really surprised people fall for it," Bill Magnuson told WLOX News. "But, some people will trust anyone. Of course, the internet is a bad place to trust people, especially ones you don't know."

Magnuson says, if you suspect you are being scammed, contact your financial institution first, and never give out account information over the internet. Congress is now considering a law to make Phishing, a federal offense.

By Jeff Lawson

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