Phishing Email from "Social Security" Concerning Cost-of-Living Increase

The Social Security Administration issued a warning on November 7, 2006, about a recent phishing scam in which email recipients are asked to update their personal information in order to receive a cost-of-living increase for Social Security payments in 2007.

The emails, which claim to be from the agency, announce a 3.3 percent benefit increase in cost of living for Social Security recipients. Recipients are told their Social Security benefits will be suspended for failure to update personal information, such as Social Security numbers, bank account and credit card information. They are then directed to a Web site designed to look like SSA’s site.

For additional information, please see the press release from the SSA:

http://www.ssa.gov/pressoffice/pr/colaPhishingScam-pr-alt.pdf (pdf) »

Please contact Coastal Federal Credit Union's Risk Management Department with questions.