“All phishing scams aim to collect your personal data, but the ‘Gameover’ scam goes straight for your banking accounts,” said Sandy Chalmers, Division Administrator for Trade and Consumer Protection. “Falling prey to this scam can do a tremendous amount of damage to your finances.”

Here’s how the scam works:

1. You receive an unsolicited and fraudulent email claiming to be from the National Automated Clearing House Association (NACHA), Federal Reserve Bank or Federal Deposit Insurance Corporation (FDIC).
2. The email will note that there is a problem with your banking accounts or with a recent transaction.
3. You will be asked to click a link to correct the information.
4. By clicking the link, you will be taken to a phony website where you will inadvertently download the Gameover malware. The malware promptly infects your computer and steals your banking information.

Here’s how to protect yourself from this scam:

• Do not open an email from any of the agencies listed above. Delete it immediately!
• If you wish to confirm if there is a problem with your account or a recent transaction, contact your financial institution directly.
• Make certain your computer anti-virus protection is up to date.
• Never click on links in unsolicited emails.

Find more details about this case here.

Click here to find the BBB’s list.

Check out the BBB’s suggestions here.

The national Better Business Bureau offers up a Top 10 tips list for online shoppers. Follow this list to shop safely online this Cyber Monday:

1. Protect your computer – A computer should always have the most recent updates installed for spam filters, anti-virus and anti-spyware software and a secure firewall.

2. Shop on trustworthy websites – Shoppers should start at www.bbb.org to check on the seller’s reputation and record for customer satisfaction. It’s a good idea to look for the BBB logo and other widely-recognized seals on retailer websites, but make sure they are real (some rogue sites plagiarize seals to look legitimate).

3. Protect your personal information – BBB recommends taking the time to read the site’s privacy policy and understand what personal information is being requested and how it will be used. If there isn’t one posted, take that as a red flag that personal information may be sold to others without permission.

4. Beware of deals that sound too good to be true – Offers on websites and in unsolicited e-mails can often sound too good to be true, especially extremely low prices on hard-to-get items. Consumers should always go with their instincts and not be afraid to pass up a “deal” that might cost them dearly in the end.

5. Beware of phishing – Legitimate businesses do not send e-mails claiming problems with an order or an account to lure the “buyer” into revealing financial information. If a consumer receives such an e-mail, BBB recommends picking up the phone and calling the contact number on the website where the purchase was made to confirm that there really is a problem with the transaction.

6. Confirm your online purchase is secure – Shoppers should always look in the address box for the “s” in https:// and in the lower-right corner for the “lock” symbol before paying. If there are any doubts about a site, BBB recommends right-clicking anywhere on the page and select “Properties.” This will let you see the real URL (website address) and the dialog box will reveal if the site is not encrypted.

7. Pay with a credit card – It’s best to use a credit card, because under federal law, you can dispute the charges if you don’t receive the item. Your also have dispute rights if there are unauthorized charges on your credit card, and many card issuers have “zero liability” policies under which the card holder pays nothing if someone steals the credit card number and uses it. If you are going to shop on classifieds web sites like Craigslist, never wire money and only buy locally where you can see the item before you hand over your money.

8. Keep documentation of your order - After completing the online order process, there may be a final confirmation page or the shopper might receive confirmation by e-mail – BBB recommends saving a copy of the web page and any e-mails for future reference and as a record of the purchase.

9. Check your credit card statements often – Don’t wait for paper statements; BBB recommends consumers check their credit card statements for suspicious activity by either calling credit card companies or by looking at statements online regularly.

10. Know your rights – Federal law requires that orders made by mail, phone or online be shipped by the date promised or, if no delivery time was stated, within 30 days. If the goods aren’t shipped on time, the shopper can cancel and demand a refund. There is no general three-day cancellation right, but consumers do have the right to reject merchandise if it’s defective or was misrepresented. Otherwise, it’s the company’s policies that determine if the shopper can cancel the purchase and receive a refund or credit.

Even though Cyber Monday is a major shopping holiday, online bargain hunters should follow these tips throughout the year. It’s better to be safe while shopping for convenient buys from the comforts of home, than to face identity theft or other issues associated with online scams.

The BBB also offers up an important story on sticking to a strict budget when shopping this holiday season.

Now, they are using text messaging to get valuable financial information. Scam artists pretend to be your bank in the text, WEAU.com reports. Cons say your debit card has been compromised and they need you to call in to verify your account information to get a new card.

Banks NEVER ask for information via text. If you receive a message like this, it is a scam. Contact authorities and your bank immediately.

Read about it in this story from the Wisconsin SMP October Fraud Alert Newsletter:

According to a report from the Office of Personnel Management’s (OPM) inspector general, Patrick McFarland, the Federal Government’s Civil Service Retirement and Disability Fund (CSRDF) has made improper payments to deceased annuitants and survivors, averaging $120 million annually over the last five years and totaling more than $600 million.  This is because if an annuitant’s death is not reported or detected, payments continue, sometimes for many years.

Despite improvements made since an OIG paper originally reported the trend in 2005, currently “there remains a high probability that egregious loss of monies from the CSRDF will continue and require strategic corrective actions,” says the OPM report.

“Each year new cases are identified which support this concern, such as an annuitant’s son who continued to receive benefits until 2008, 37 years after his father’s death in 1971. The improper payment in this case exceeded $515,000 and was reported to OPM when the son, who fraudulently received the payments, died. The improper payment was not recovered.”

OPM Director John Berry said that the agency already has adopted 10 of the inspector general’s 14 recommendations for stopping the improper payments.  He said the agency is attempting to recoup its losses including $113 million in collection.

Methods for preventing this problem include matching the fund’s computer records with the Social Security Administration’s death records, checking tax records, and improving the timeliness of death reporting by communicating more effectively with annuitants and their family members.  The OPM has also sampled its records of all recipients over 90 years old to confirm that the annuitants are still alive.  In a sample of 4,400 annuitants, six were determined to be deceased but were not identified during prior computer matches with SSA.  Of the six, three are suspected to involve fraud and have been referred to OIG investigators.

There are about 2.5 million federal workers who receive more than $60 billion in benefit payments from the program each year.  The improper payments represent less than 0.2% of the program, said Berry.

To read the full report, visit http://www.opm.gov/oig/pdf/RP_Paper%209-14-11.pdf

Sources: www.opm.gov and Milwaukee Journal Sentinel (9/25/2011)

Kim Komando highlighted the problem over the weekend on her show when an unfortunate consumer called in to report that she had been duped.

Here’s how it works:

Someone claiming to be from a legitimate company like Microsoft or antivirus provider AVG calls your home. They say something like, “Hey, we noticed that your computer is having problems. We can see it from our servers. We’d like to help.”

Some unfortunate enough to believe the cons will start a dialog with them: “Yes, I AM having issue with my computer. What should I do?”

This is the point where the super-friendly scam artist offers to take care of it for the consumer. All the person needs to do is boot up the computer, if it isn’t already on, connect it to the Internet and pull up a website. The crook will then get the PC user to enter a code or use some link so the crooks have direct access to your computer.

Instead of cleaning it up, they install vicious software that can steal your personal information.

You can read more examples of this type of scam at the Sucuri blog and at Microsoft.

The Fallout from Being Scammed

Since most consumers have issues with their PCs, it isn’t a far reach to believe it is true – especially if they identify themselves as technicians from a company you know. Technicians at companies like Dell will take control of your PC in a similar manner to diagnose or fix problems. If you have been through this process before, it is easy to believe a scammer who offers to do the same.

The problem is, once a con gets access to your computer, they take control of your life.  They have access to all of your documents – including tax returns or other items that contain Social Security numbers or bank information. They can also get access to your email accounts, which crooks then hack to spam those people in your address book.

Many times, they will ask consumers to pay for this fraudulent computer clean up service by entering a credit card number. Sometimes, their “forms” will ask for those three important digits on the back of the card to “verify” it. Once they get those and the full number, they can use your card to go on a spending spree.

Some people have to close their bank accounts, change their telephone numbers and completely reinstall all software on their computers to recover.

How to Protect Yourself

No legitimate company will cold call you to help with PC problems. If you are having issues with your computer, directly contact the company’s tech support department. The same goes for software: If you have trouble with software you’ve installed, then contact the software company directly. If you cannot find the telephone numbers, then look on company websites, or call information to get them.

If someone at a legitimate company wants you to logon to a website so that they can take control of your computer, then make sure it is an HTTPS site – which is a secured and protected site. Most crooks don’t bother to institute HTTPS when they are running a scam. It takes too long and cuts into their profits.

If you don’t trust anyone using remote access to work on your computer, then take it to a computer repair shop. You may be charged for repairs that are not covered under your warranty. Be sure to ask around for references and check with the Better Business Bureau before doing business with a shop.

How to File a Complaint

If you receive one of these calls, get as much information as possible from the caller before you hang up. Report it to the Internet Crime Complaint Center and your local FBI office. Also, contact local law enforcement so they can notify the media.

The paper reports that those charged billed Medicaid for equipment never delivered to patients.

According to the story:

The Star Tribune explains the complicated scheme:

The indictment, handed up late Monday, alleges that the Hoffmans, either separately or together, owned and controlled business entities that they used to carry out the alleged fraud, including Home Funding Corp., Accredited Financial Services, Encore Acquisitions, Bessford Partnership and GRD Property Management.

Minnesota One Mortgage Inc. of Maplewood brokered the loans on the deals. Its former owner, Chad Wegscheider, 37, formerly of White Bear Lake, was charged in August with conspiracy to commit mortgage fraud involving the conversion of apartment buildings into condominiums.

Wegscheider, the Hoffmans and others allegedly conspired in a scheme to enter into purchase agreements for apartment buildings in Minnesota and Wisconsin that would be converted into condos. They allegedly paid for buildings by tricking mortgage companies into lending money to unqualified borrowers whom they’d recruited in advance and who agreed to buy condos at inflated prices.

Authorities say the scheme, from June 2006 to 2008, created a pool of funds to pay for the buildings.

The indictment against the Hoffmans alleges that they also bilked lenders on a series of mortgages involving their primary residence, a million-dollar home on Neal Avenue in Hastings, and a vacation property on Spicer Lake.