E-mail fraud takes a new twist

Wednesday, 6 August 2003, 9:49 AM EST

There's a new Internet fraud scheme you can add to your list: phishing.

In what the FBI calls "the hottest and most troubling new scam on the Internet," criminals are sending out millions of fake e-mails to trick online consumers into divulging personal and financial information.

The e-mails look legitimate and appear to come from some of the Web's biggest sites, including eBay, PayPal, MSN, Yahoo and America Online, and big-name banks and retailers.

In fact, tech-savvy criminals are collecting the information to commit credit-card fraud, identity theft and even unauthorized bank account transfers from unsuspecting consumers.

The problem has mushroomed this summer, prompting a warning recently from the Federal Trade Commission and FBI for consumers to beware of criminals fishing for personal identification and financial information.

[ Read more ]

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