January 21st, 2011

FDIC Issues Special Alert on Deposit-Insurance Email Scam

The FDIC has issued a special alert to warn consumers about an email scam that uses the alleged suspension of consumers’ deposit insurance coverage as a ploy to obtain personal information. The e-mail — purportedly from the FDIC — informs recipients that “in cooperation with the Department of Homeland Security, federal, state and local governments,” the FDIC has withdrawn deposit insurance coverage from their account “due to account activity that violates the Patriot Act.”

It then says the deposit insurance coverage will remain suspended until identity and account information can be verified using a system called “IDVerify.” The FDIC is attempting to identify the e-mails’ source and disrupt their transmission, officials said.

Read the entire article on FDIC’s website

The content of this article is taken from the American Bankers Association.

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