NCUA warns about continued phishing expeditions

WASHINGTON (7/20/05)--The National Credit Union Administration (NCUA) yesterday asked credit unions to continue educating members about Internet schemes aimed at extracting confidential information.

In a letter to all U.S. credit unions, the agency said so-called phishing perpetrators recently have expanded their schemes to mimic NCUA's web site, and target consumers by asking them to provide confidential information to purportedly verify account registration information or to maintain insurability of accounts.

NCUA explained the term "phishing" refers to fraudulent attempts to gain access to consumers' non-public personal information through the use of unsolicited emails intended to direct consumers to a web site "spoofed" to appear like a legitimate web site.

"NCUA is highly sensitive to the risk that use of our official agency logo could potentially make the scam more deceptive to unsuspecting members," according to the letter.

NCUA recommended credit unions reinforce these messages to members:

  • Never provide your personal information in response to an unsolicited request.

  • If you believe the contact may be legitimate, contact the credit union yourself.

  • Never provide your password over the phone or in response to an unsolicited Internet request.

  • Review account statements regularly to ensure all charges are correct.

NCUA said it was working with the FBI to investigate recent phishing attacks disguised as NCUA's website, and would "prosecute those responsible."

In addition to a one-page informational statement stuffer, NCUA said credit unions and members could forward all suspected phishing emails to phishing@ncua.gov.

Use the resource links below for more information.

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Resource Links
Consumer information about phishing
Internet Fraud Complaint Center
NCUA brochure for consumers
Resources to fight phishing fraud


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