Phishing is a high-tech scam that uses e-mail to trick consumers into revealing their credit card numbers, bank account information, Social Security numbers, passwords and other sensitive information. The e-mail tells recipients that they need to "update" or "validate" their billing information to keep their accounts active. It further directs them (with a link) to a "look-alike" Web site of the legitimate business, tricking consumers into thinking they are responding to a legitimate site. Duped consumers end up giving personal financial information to criminals who use it to order goods and services and obtain credit.
The look-alike web site can really look like the real thing, including logos and images (a couple of the more “popular” phishing e-mails have used the names CitiBank and Sun Trust).
Anyone who receives such an e-mail needs to think first before clicking on the link and providing the requested information. Instead, the company in question should be immediately contacted by telephone and the e-mail reported.
You can learn more about Phishing and view some some examples by clicking here.