FDIC Consumer News: Beware, It’s a Scam!
Avoid phishing, smishing, vishing, and other scams
FDIC Consumer News – October 2020
Criminals are constantly trying to steal consumers’ personal data using fake emails, websites, phone calls, and even text messages. They use a variety of ways to try to trick people into providing Social Security numbers, bank account numbers, and other valuable information. In many cases, their goal is to steal money from you. This article defines some terms used for different online scams and how they work, so you can protect your money.
How do scammers contact their victims?
Phishing is a term for scams commonly used when a criminal uses email to ask you to provide personal financial information. The sender pretends to be from a bank, a retail store, or government agency and makes the email appear legitimate. Criminals often try to threaten, even frighten people by stating “you’re a victim of fraud” or some other urgent-sounding message to trick you into providing information without thinking. Don’t do it.
Smishing is similar to phishing, but instead of using email, the criminal uses text messaging to reach you. Same idea, they pretend they are from an organization you might know and trust (such as a bank or the IRS) and try to get your personal information.
Vishing, similar to phishing and smishing, is when scammers use phone services such as a live phone call, a “robocall,” or a voicemail to try to trick you into providing personal information by sounding like a legitimate business or government official.
What are the different types of scams? 
MUSINGS BY DIANE:
Technology is both a blessing and a curse. It helps us to stay in touch with our family, friends and the world. But it also exposes us to dangers that our parents never contemplated. People we never met, who live on the other side of the world and don’t know us can steal our lives. Keep informed on the latest scams. Keep your technology updated, or don’t use it at all (those are your only two choices).
Use your common sense (this is a theme you see throughout all my Musings). Remember P.T. Barnum’s “quote” (but there is no evidence he actually said this) “there is a sucker born every minute”. Don’t be that sucker.
– Diane L. Drain

Diane is a well respected Arizona bankruptcy and foreclosure attorney. As a retired law professor, she believes in offering everyone, not just her clients, advice about bankruptcy and Arizona foreclosure laws. Diane is also a mentor to hundreds of Arizona attorneys.
*Important Note from Diane: Everything on this web site is offered for educational purposes only and not intended to provide legal advice, nor create an attorney client relationship between you, me, or the author of any article. Information in this web site should not be used as a substitute for competent legal advice from an attorney familiar with your personal circumstances and licensed to practice law in your state. Make sure to check out their reviews.*
In Case You Missed It
Published On: October 28, 2023
When a debtor is in Chapter 13 bankruptcy, it is not unusual that their monthly payments are made through a plan rather than directly to the mortgage lender. At the end of the year, the mortgage lender is likely to send Form 1098 (mortgage interest paid through the year) to the trustee, not the homeowner.
Published On: July 19, 2023
IMPORTANT PROGRESS FOR STUDENT LOAN BORROWERS WHO HAVE BEEN IN REPAYMENT TWO DECADES OR MORE Posting from the National Consumer Law Center Important Progress for Student Loan Borrowers Reposting from NCLC, July [...]
Published On: March 28, 2023
DOD to Help Military and Their Families SIX New Measures to Enhance Well-Being Release from US Department of Defense, March 22, 2023 Secretary of Defense Lloyd J. Austin III unveiled a comprehensive plan [...]
Published On: March 6, 2023
PEOPLE MAY WANT TO FILE A TAX RETURN – EVEN IF THEY ARE NOT REQUIRED TO DO SO Posting from the IRS & Filing Tips IRS Tax Tip 2023-27, March 2, 2023 [...]