What are Phishing scams

With the increase in use of internet and e-commerce, there is a worldwide increase in internet related business frauds.

Phishing scams are part and parcel of this increasing number of cyber crimes.
Phishing means sending an e-mail that falsely claims to be from a particular enterprise (like your bank) and asking for sensitive financial information. Phishing is sending out a 'bait' in the form of a spoofed e-mail that closely mimics most bank notifications.

Some phishing mails include a legitimate-looking URL that actually conceals the phishing URL, or the site where the stolen information is stored, while some include an image, which when clicked, directs the affected user to the phishing site.

You should always remember that a legitimate financial institution will never ask for details of your account via an e-mail. You must never e-mail financial information over the Internet as it is not a secure method for transmitting such sensitive information.

- Contributed by Ankita Sinha