Your Financial Future: Email scams can lead to identity theft
Identity theft is a constant problem in our country.
I recently had someone tell me they received an email purported to be from Amazon telling them that their Amazon account had been hacked. They were instructed to clink on a link to rectify this problem. They were then asked a few questions including bank account information. The next day, $20,000 of their savings account had been transferred to checking, and the crook was attempting to transfer this new balance out of the bank.
Two weeks ago, I received an email from a well known local bank telling me I was having trouble with my account. I was instructed to click a link to correct this problem. I did not comply with these instructions, because I do not have an account with this bank, so it was impossible to have this issue.
I also received another email last week telling me that things had been straightened out and I could now clink on a link and give them my bank account number and the $5.5 million that they promised me would be deposited into my bank account from overseas. This is a version of a scam that has been circulating for years.
While these requests may look like they are coming from the identified company, there are a few telltale signs that they are not legitimate. First, the two that were sent to me had a response address that was a gmail account. Most large companies would have their corporate name as part of the email address. Second, if you do not have an account with this company, you should probably delete immediately. It is not likely that someone you do not know wants to deposit millions of dollars into your account.
Do not click on links that you are not sure about because this is how they get malware into your computer. They can steal your information. Sometimes they hijack your address book and send emails to your friends that appear to come from you trying to scam them.
I have received emails claiming to be from Amazon about my account. If there is a problem, the worst that could happen is an order might be delayed. You usually have a credit card or two on file with Amazon to cover your purchase. Sign into your account on Amazon website to see if there is a real issue. If so, check your credit card issuing company by calling them directly yourself.
Do not click any links in an email. If you do not deal with a company, what difference does it make if your account is compromised? You never opened one.
Several other popular scams involve an email reported from Social Security or the IRS. These emails threaten to suspend your monthly check or send the police to arrest you if you do not immediately respond. No government agency will send you these emails. You will receive a series of snail mail letters inquiring about a potential issue. Depending on the size after these letters, you may receive a telephone call. You must be careful even with a call as there is software available that can make a telephone call appear on your Caller ID as legitimate.
You will never be asked by anyone legitimate to pay with pre-paid credit card or other means. If something does not appear correct ask one of your children to help you investigate the problem if you are a senior. It is always easier to avoid these problems than it is to fix them. Be careful and do not let someone take advantage of you.
Your Financial Future is written by certified financial planner Gary W. Boatman, MBA and CFP, who also wrote the book, 鈥淵our Financial Compass: Safe Passage Through The Turbulent Waters of Taxes, Income Planning and Market Volatility.鈥� If there is an area that you would like to see discussed in the column, send your suggestions to gary@BoatmanWealthManagement.com.