Iowa league sends out phishing alert

DES MOINES, Iowa (4/17/06)--The Iowa Credit Union League (ICUL) alerted credit unions Friday to a fraudulent e-mail that uses the league's name.

The phishing e-mail is titled "Iowa League Alert Message" and asks recipients to verify their account.

So far, the e-mail has been sent to students at Iowa State University and some credit union members, according to Emily Oliver, league public affairs specialist.

On Friday, the site had been taken down, she told News Now, but not before one person fell victim to the scam to the tune of $300.

The league contacted Iowa State University, the Iowa Credit Union Division, the Federal Bureau of Investigation and the National Credit Union Administration (NCUA).

Iowa State University's student newspaper, the Iowa State Daily, wrote an article in Friday's edition warning students about the scam.

Oliver noted ICUL does not and will never request that anyone send personal information such as PINs and Social Security numbers.

Last year, phishers began focusing on smaller financial institutions such as credit unions and community or regional banks. The scam artists previously focused on mainstream consumer websites.

But, as those companies increased security measures, phishers moved on to smaller and more localized targets, according to Dan Hubbard, senior director of security and technology research at Websense Inc. (News Now June 16, 2005).

Both the Credit Union National Association (CUNA) and NCUA have been targets of fraudulent websites and e-mails.

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Resource Links
CUNA ID Theft Resources
Statement Stuffer: Phishing--Don't Take the Bait
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