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Small Business Articles - Banking

Phishing Scams: Don’t Take the Bait
October 17, 2005 - Important information from Citizens State Bank, your community anchor

Internet phishing scams, like other forms of fraud, prey on the unwary.

Phishing con artists claim to be from a reputable company and send out thousands of fake e-mails and fake Web page images in hopes that consumers will respond with account information, credit card numbers, passwords or other sensitive information. This information can then be used by the thieves to order goods and services or obtain credit.

A phishing e-mail can look quite convincing, with company logos and banners copied from actual, legitimate Web sites. Citizens State Bank Branch Officer Scott Orts warns, “Often, a phishing e-mail will tell recipients that their security procedure has changed or that they need to update (or validate) personal information, and the recipients will be directed to a look-alike Web site. Phishing attempts may also try to impart a sense of urgency to get recipients to respond before thinking through the situation.”

Consumers should be vigilant. For more information on phishing, visit the Federal Deposit Insurance Corp., Federal Trade Commission, Anti-Phishing Working Group, National Consumers League , or OCC Consumer Protection News .

Tips to Thwart Phishing

  • Never give out personal financial information in response to an unsolicited phone call, fax or e-mail, no matter how official it may seem.
  • Do not respond to e-mails that may warn of dire consequences unless you validate your information immediately. Contact the company to confirm the e-mail’s validity using a telephone number or Web address you know to be genuine.
  • Check your credit card and bank account statements regularly and look for unauthorized transactions, even small ones. Some thieves hope small transactions will go unnoticed. Report discrepancies immediately.
  • When submitting financial information online, look for the padlock or key icon at the bottom of your Internet browser. Also, many secure Internet addresses, though not all, use “http s” to signify that your information is secure during transmission.
Report suspicious activity to the Internet Crime Complaint Center, a partnership between the FBI and the National White Collar Crime Center.

Citizens State Bank, a locally owned and operated community bank, was established in New Baltimore MI in 1922. Citizens State Bank specializes in serving small to medium-sized business owners in Macomb and St. Clair counties. To set a FREE No Obligation appointment to analyze your current merchant service program or to learn more about merchant services, contact Scott Orts at Citizens State Bank at 586.468.7500. Learn more about Citizens State Bank’s other products and services at www.mycommunitybank.com.

© 2005 All Rights Reserved. No part of this article may be published without advance written approval.


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