Credit Report News, Tips & Advice
Website CertifiedPrivacy Protected
Credit Report News, Tips & Advice « Credit Reports > Credit Report News > Phishing Leading Cause for Credit Report Anomalies

Phishing Leading Cause for Credit Report Anomalies

By Faye Mergel
Published: Saturday, October 10th, 2009

Identity theft investigators point out to phishing scams as one of the leading causes for stolen identity. Scammers usually hack through a person’s email address in order to retrieve personal identifying information which they later use in opening fraudulent accounts. Investigators say that phishers rack up debt, do not pay them back, and finally ruin the creditworthiness of a person. They add that phishers do not stop while they can still get something out of a credit report.

Phishing Leading Cause for Credit Report AnomaliesAccording to experts, phishing involves acquiring the password of an email address and then obtaining sensitive personal details it contains. Hackers pose as trustworthy individuals, often identifying themselves as representatives from a mailing service provider. Electronic mails are sent to a person containing malicious attachments, which are used to execute phishing attacks. Experts note that victims are usually subscribers of major mail providers such as Gmail, Yahoo, and Hotmail.

Several email subscribers reported this week that their accounts were flooded with unsolicited communication. Similar cases in the past were attributed to stolen identities. Victims report that they did not give out sensitive information anywhere and could only point to phishing as the cause of fraudulent items accumulating in their credit report. As a response, Internet giants Google, Yahoo, and Microsoft issued guidelines that would help consumers gain control of their email account and credit report.

Company representatives warn clients about emails soliciting sensitive information such as email password, full name, date of birth, and Social Security number. Communications like these are almost certainly a fraud, the representatives remark. They also advise consumers not to trust unsolicited communication even if it contains a company’s official logo and other relevant information about a reputable Web site no matter how detailed they are. Experts advise subscribers to be suspicious of emails which contain phrases such as “You have won the lottery” and “If you don’t respond within 48 hours, your account will be closed.”

Identity theft investigators tell Web clients that being too trusting makes them vulnerable to Internet frauds. Consumers are also advised to check their credit reports at least once a year, especially if they use the Internet regularly. Experts advise them to take advantage of their right to a free credit report which they can retrieve online. Each consumer is entitled to a free credit report from the credit reporting agencies once in every twelve months. Specialists say that one should immediately file a dispute with the credit bureaus if they find fraudulent items in their accounts.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.