Watchdog reports: This e-mail is a fraud

Watchdog warns readers not to pay any attention to a recent mass e-mail claiming to be from Bank of America asking for verification of online ID information.

The e-mail is a fraud. It's what's called "phishing," an effort to catch the unwary and steal money from bank accounts.

Just like fishermen dangle bait on a hook to lure fish, "phishing" e-mails try to hook you by playing on your fear or greed. It's a fairly common online fraud effort.

"We don't ask you to verify information that way," said Betty Riess, a Bank of America spokeswoman. "We don't request security information that way."

She said anyone who receives a suspicious e-mail should go online to the bank's Web site and check out the warning signs of a fraudulent e-mail. She said people receiving such e-mails should delete them or forward them to abuse@bankofamerica.com so that the bank can attempt to trace the sender and shut them down.

Riess said phishing usually is a mass e-mail. "There's a chance a few might be customers and a few might actually respond."

The e-mail question is titled: Bank Of America: Ownership Authentication Guide.

It warns of a security breach and says, "Our Security team has observed multiple logons on your Online banking account, from different blacklisted IP's." It then urges people to click on an "Online Banking Authentication Guide" to verify account information.

As with many phishing efforts, this one contains several misspellings and improper English.

Bank of America's Web site offers several ways to spot phishing e-mails:

--Bank of America e-mails will never ask you to reply to an e-mail with any personal information or data, such as your Social Security number, ATM or Check Card PIN, or any other sensitive information. In addition, when you sign in to Online Banking, always make sure to look for your SiteKey, a symbol that designates a secure web site.

--Urgent appeals claim that your account may be closed if you fail to confirm, verify, or authenticate your personal information immediately. Bank of America and most other financial institutions will not ask you to verify information in this way.

--Requests for security information claim that the bank has lost important security information and needs to update it online.

--Typos and other errors are often the mark of fraudulent e-mails or Web sites. Also be on the lookout for: awkward, stilted, or inappropriate writing and poor visual or design quality.

--Too-good-to-be-true offers are often just that. Don't get mixed up in fraudulent activity by believing e-mails or web advertisements that offer to help you earn money by transferring cash.