Federal Banking Agencies Provide Consumers with Information on Internet Phishing

The FRB, FDIC, OCC, OTS and NCUA (the "Agencies") jointly issued a brochure (the "Brochure") that provides consumers with information concerning Internet "Phishing," i.e., the theft by Internet pirates of an individual’s confidential financial information such as account numbers, passwords and social security numbers. The Brochure states that one common form of Phishing scam involves the thief sending an e-mail to individuals that appears to be from their bank, thrift or credit union (often with the financial institution’s logo) and that requires the individual to verify immediately account information, with the threat that unlesss the individual verifies the information his or her account will be closed. No legitimate financial institution, state the Agencies, will ask its customers to verify account information online.