FTC: Internet Scams Will Increase During Bad Financial Times

A credit crisis means some “above the law” types will be looking for alternative ways to get credit or cash. The Federal Trade Commission (FTC) warns that e-mail scams that “phish” for personal information may increase in light of all the current financial problems, according to MSNBC.

Phishers send emails disguised as being from an official institution, such as a bank or mortgage company. The agency said consumers should take extra caution in responding to any e-mails that look as if they are from financial institutions because of the increased likelihood of scams. The Federal Deposit Insurance Corp. said it has received numerous reports of a fraudulent email that appears to be from the government agency. Its subject line reads, “Funds wired into your account are stolen.” The FTC issued a guide to help consumers avoid these types of scams. Go to: www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt089.shtm. ❖