Financial Briefs

More Articles  Printer Friendly Version

 

New Identity Fraud Tactic Targets Amazon Prime Users

4882 1

If you receive an email update on an order from Amazon that you did not place, beware; it’s likely an attempt to steal your credit card information.

Unlike emails from Nigerian royalty and other obvious scams, this fraudulent email contains none of the telltale spelling or grammatical mistakes. It’s not yet filtered by Microsoft and spam protection software. It is a new and sophisticated financial fraud threat.

4882 2The fake Amazon Prime email order is billed to you but shipped to a strange name and address unfamiliar to you. A toll-free number is provided.
“Thank you for calling Amazon,” says the person who answers and gives you his name. ”How may I help you today.” (Listen to a fake Amazon rep)

This is where the sophistication of the fraudsters is most frightening. With the din of a call center in the background, the fake Amazon representative never asks you for your account password after you explain why you are calling.

Adding credibility, the fake rep tells you to check your email because he is sending you a one-time password. Even a skeptic now is likely to believe this is a real Amazon representative!

The fake Amazon rep is careful never to ask for your full credit card numbers but eventually connects you to another department to cancel the fake order. To be clear, the fake email and fake representative was all a setup. The final stage of the fraud is still yet to come.

To generate the one-time password, the fake Amazon rep simply used your email address to request a new password for your Amazon account. That generates an email to you, but makes it seem legitimately sent by the fake Amazon rep you are talking to.

In this case, the bad guys hung up the phone after questions about their location and verifying their identity, but it’s easy to see how many consumers could fall victim to this scam.

Please let us know if you would like to receive alerts about online financial fraud.

Nothing contained herein is to be considered a solicitation, research material, an investment recommendation, or advice of any kind, and it is subject to change without notice. It does not take into account your investment objectives, financial or tax situation, or particular needs. Product suitability must be independently determined for each individual investor. Tax advice always depends on your particular personal situation and preferences. The material represents an assessment of financial, economic and tax law at a specific point in time and is not intended to be a forecast of future events or a guarantee of future results. Forward-looking statements are subject to certain risks and uncertainties. Actual results, performance, or achievements may differ materially from those expressed or implied. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete, and is not intended to be used as a primary basis for investment decisions. Any investments or strategies referenced herein do not take into account the investment objectives, financial situation or particular needs of any specific person. The material represents an assessment of financial, economic and tax law at a specific point in time and is not a guarantee of future results.


Email this article to a friend


Index
The Cost Of Not Having A Financial Plan Is Surging
Equity Risk Premium Grew Wider And More Important
The Facts Amid Rising Fears Of Inflation
A Professional Perspective On 2020, The Cruelest Year
Viewing Financial News Through The Long Lens Of History
Act Before Hitting The Crossroad Of Fiscal And Tax Reality
The Bull Market Broadened Recently
An Important Investment Idea To Remember In 2021
New Covid Aid Law Waives 10% Penalty On Pre-59½ Retirement Plan Withdrawals
What Business Owners Need To Know About The New Aid Package
A Call To Act On The Coming Tax Hikes
Staying Focused On Strategic Financial Planning
Will M2 Be The Big Investment Story Of 2021?
Test Your Knowledge Of Urgent Wealth Management Issues
Neither Red Nor Blue, Tax Planning Is All About The Green

This article was written by a professional financial journalist for Blattel & Associates and is not intended as legal or investment advice.

©2021 Advisor Products Inc. All Rights Reserved.

The articles and opinions on this site are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you consult your advisor with regard to your individual situation.
All summaries/prices/quotes/statistics presented here have been obtained from sources we believe to be reliable, but we cannot guarantee its accuracy or completeness. Past performance is no guarantee of future results.
When you access certain links on the Blattel & Associates website you may leave this website. We do not endorse the content of such websites nor the products, services or other items offered through such websites. Any links to other sites are not intended as referrals or endorsements, but are merely provided to the users of the Blattel & Associates website for convenience and informational purposes.
Robert Blattel is a CERTIFIED FINANCIAL PLANNERTM practitioner. The partners of Blattel & Associates are not registered in all states. Please contact us to verify availability in your state. This is not an offer to buy or sell any security.
CFP® and CERTIFIED FINANCIAL PLANNERTM are certification marks owned by the Certified Financial Planner Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board’s initial and ongoing certification requirements.
Securities and Investment Advisory Services offered through Cutter & Company Brokerage, Inc., 15415 Clayton Road, Ballwin, Missouri 63011 * (636) 537-8770. Member FINRA/SIPC.
Privacy Policy can be read at http://www.cutterco.com/privacypolicy.htm.