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It's Not FDIC, and It's Not Here to Help You

Identity thieves impersonating officials of the Federal Deposit Insurance Corporation are collecting confidential personal information through email, according to an FDIC consumer alert.

The fraud begins when you receive an email with the subject line "Check Your Bank Deposit Insurance Coverage." The message tells recipients that "You have received this message because you are a holder of an FDIC-insured bank account. Recently FDIC has officially named the bank you have opened your account with as a failed bank, thus, taking control of its assets."

The email displays a link to a web site and requests readers to “visit the official FDIC website and perform the following steps to check your Deposit Insurance Coverage.” The link, of course, sends you to a fraudulent web site. If you comply with the site’s instructions, you’ll be handing your personal information to crooks who will steal your identity — and your money.

Delete any such email, because the FDIC doesn’t issue emails of any kind to consumers. Should you ever have a question about an email regarding your bank, contact the bank directly — using contact information collected from a reputable source.

From the February 2010 Inside Personal Finance

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