Phishers again try luck at CUNA sites

News Now - CUNA
May 31, 2005

MADISON, Wis. (5/27/05)--As phishing scams are becoming a way of life on the Internet, the Credit Union National Association (CUNA) again is reminding credit unions--as well as members and consumers--that the association will never use e-mails to solicit credit union username, password, PIN number, or other personal identity information.

Yesterday, CUNA was notified that a phishing attack was directed at the creditunion.coop portion of the website, according to CUNA Web Services Vice President Dorothy Steffens. She said an e-mail was being distributed that appeared to be from CUNA and contained the subject line, "In attention of all Credit Union customers!"

Steffens said yesterday's reported emails included a "re-scripted" fraud alert text box similar to the one at the top of the creditunion.coop page. "The alert was re-written to appear as if the Credit Union National Association was requesting the information to assist in fraud prevention--this is absolutely false," Steffens emphasized.

She said this email apparently originated in China. As in previous phishing episodes, CUNA was working with the Federal Bureau of Investigation to shut down the collection site.

The average monthly growth rate in phishing sites increased 28% from July 2004 through March 2005, with the financial services industry the most-targeted industry for phishing attacks, says the Anti-Phishing Work Group (APWG). APWG, based in Massachusetts, is comprised of business and law enforcement agencies around the globe.

Financial institutions averaged 81% of all "hijacked brands" in March 2005. It notes that phishing attacks have been reported against credit unions and community banks and well-known institutions with global brands (News Now May 11).

The National Credit Union Administration (NCUA) also has been a recent phishing target. NCUA, like CUNA, has posted a fraud alert on its website.

(This article was taken from News Now)