Another email scam

Started by peternap, July 30, 2008, 07:59:05 AM

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peternap

I don't even have a BOA account ???

Dear valued Bank of America® member,

Due to a recent high number of fraudulent transactions, we have issued the following security requirements.

It has come to our attention that 98% of all fraudulent transactions are caused by fraudsters using stolen account information to purchase or sell non existant items. Thus we require our members to enroll in our SiteKey security upgrade, as part of our continuing commitment to protect your account and to reduce the instance of fraud on our website. After you submit the requested information, we will create a unique algorithm based on your personal computer, allowing us to recognize you in any future online banking sessions and thus immediately spotting any unauthorized access. By passing back and forth secret information that only you and Bank Of America know, you can feel even more secure with your online banking experience. We recognize you and you recognize us. If you could please take 5-10 minutes out of your online experience and enroll in the SiteKey security upgrade, you will not run into any future problems with the Bank Of America online banking service. However, failure to meet our security requirements will result in your account suspension.

We are requesting this information to verify and protect your identity. Federal regulations require all financial institutions to obtain, verify, and record identification from all persons opening new accounts or obtaining ongoing payment services. This is in order to prevent the use of the U.S. banking system in terrorist and other illegal activity. For these reasons, Bank Of America will utilize services provided by various credit reporting agencies to verify the information you submit to us.

Once you have enrolled in our SiteKey security upgrade your pending Bank Of America account transactions will not be interrupted and will continue as normal.

Please enroll in our SiteKey security upgrade by clicking here.

Thank you for your time.

Regards,
Security Department.
Bank Of America
These here is God's finest scupturings! And there ain't no laws for the brave ones! And there ain't no asylums for the crazy ones! And there ain't no churches, except for this right here!

MountainDon

Scammers/Spammers send out enough of those and they will hit real BOA account holders. If those folks are stupid enough they end up with account trouble. BOA does have a nice upfront security add-on, the Sitekey, that was mentioned. That's been around for several years now. By now nobody should fall for those emails. I think all the bigger banks have variations on this going around.
Just because something has been done and has not failed, doesn't mean it is good design.