As you are probably already aware, online fraud has become so prevalent in this age of technology. As the tools for combating online fraud continue to improve, so too does the sophistication of fraudulent email messages and web sites. Understanding the techniques to perpetrate online fraud will help you to avoid becoming a victim.

What is Phishing (or online fraud)?
Phishing is a technique used by criminals to lure you into disclosing personal information. Studies show that Phishing has become one of the most popular methods of gathering personal information which is then used to perpetrate financial fraud and identity theft.

How Does Phishing Work?
Various tactics are used to lure you into providing personal information via email or on a website that appears legitimate but isn't. These email messages and/or websites often resemble a trusted site such as your credit card company, bank, or retail website that you have purchased from before (Amazon for instance). Often these fake messages or websites attempt to trick you into providing or "validating" information about yourself or your account such as: Social Security Number, Account Number, User Name, Password, PIN Number, Address, and many others. This information can then be used by criminals for a wide variety of financial fraud… at your expense!!!

How to Protect Yourself?
If you stay alert and apply some of the suggestions below, you will be well on your way to protecting yourself from a fraudulent phishing scheme:

1. Be Wary of Email Messages that Request Personal Information or Ask for Verification - double check the source of the email, the web domain of the sender, and never call a phone number listed in the message. In addition, never click on a link embedded in the email message.
   
2. Check to See if the Company Uses Encryption - if you are purchasing product online, check to see if the company uses security encryption. Also, try and do business online with well-known companies that you know and trust.
   
3. Password Maintenance - change your passwords often and use a combination of letters AND numbers making them more secure and difficult to guess.
   
4. Use a Dedicated Credit Card - Using a separate credit card dedicated solely to online transactions will help you quickly identify unusual or fraudulent transactions should they occur. In addition, this may help limit your liability depending on the policy of your credit card provider. Try to avoid using debit/bank cards online as your entire bank balance can be wiped out without recourse.

For more detailed information on Phishing, Click Microsoft's Online Fraud Website.