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Updated on May 8, 2011

Internet identity theft, medical identity theft and financial identity theft have been around for sometimes now and a lot has been written about them all.

My main purpose of writing this hub is to educate people on the new phishing and identity theft schemes that scammers have devised to defraud innocent citizens off their hard earned money. Below are eight new phishing schemes involving Federal outfits like Federal Deposit Insurance Corporation (FDIC).





  • Illegal wire transfer banking Trojan scheme: scammers will send you e-mail purportedly coming from FDIC telling you that there is an ongoing illegal transfer of funds. They will go further to tell you that there has been restriction placed on transfers to help curb the activities of scammers. Imagine this; a scammer warning you to be aware of scammer only for them to include a link at the end of the mail. They will hyperlink a malicious code that when followed will get your computer infected and give them access to all your online banking activities. This virus is an example of a banking Trojan hoarse. Know it now that the FDIC has alerted the general public (individuals, businesses and financial institutions) that there is no form of restrictions on transfers. You can visit the official website of FDIC and get more information on this.
  • Credit card interest rate reduction telephone phishing scheme: this type of phishing scheme according to FDIC is a typical phishing scheme where credit card companies (real or fictitious) claims to be affiliated with FDIC just to make you fall for their tricks. They will provide you with lower rates and then tell you to supply your banking and other financial details so that they can determine if you are qualified for this new lower interest rate. Please, do not be fooled as no credit card company will call you to get your details before determining if you are qualified for a lower rate or not. Ask your self this question; if they got your phone number, then they should be able to get other information about you from their database. For more information on this, please visit

Money laundering phishing scheme: under this scheme, fraudsters will send you an email telling you that FDIC requires all customers of FDIC member banks to supply their banking details for them to be best positioned to fight the increase in the case of non citizens of US opening bank accounts with US banks with the intention of committing fraud. You will then be asked to follow a link and click on your bank logo. They will go ahead to tell you that you will be redirected to a specialized page where you will have to fill in certain information in the form provided. Be warned, nobody will ask you to provide such confidential information online.


  • Wired funds banking Trojan scheme: this form of banking Trojan attack is targeted on greedy people. Yes, if you are not greedy how will you open an attachment to acclaimed bank statements containing returned funds realized from identity thieves when you have not in the first place been duped or have not done any transaction to warrant such e-mail? Fraudsters sends e-mail to their targets telling them that proceeds from their identity theft crime have been wire transferred into their bank account. The fraudsters will then go further to inform that prove of that has been sent to you as an attachment. You don’t need to be told what happens to your computer after opening the attachment. Well, incase you don’t know, your computer will be infested with malicious code that will not harm your computer but just sit down there to tap all your personal information.
  • Card insurance phishing scheme: this kind of phishing scheme pretends to be educating you on ‘who FDIC is’ and ‘what FDIC can do for you’. the fraudsters will send you an e-mail warning you against identity theft and then will go ahead to tell you that FDIC is representing a new insurance that is established to help restore you up to certain amount of money if you have been a victim of internet fraud. A link will be provided to you as usual asking you to signup for the new insurance program. Please don’t click on the link as it contains malicious code that is only meant to infest your computer.
  • Bank deposit insurance coverage phishing scheme: because of the crisis in the banking sector, many scammers now use the opportunity to instill fear into unsuspecting general public. They will tell you that you received this e-mail because your bank is a FDIC-insured bank after which they will encourage you to follow a link, download and open your personal FDIC Insurance File to check your Deposit Insurance Coverage. Again, don’t follow the link.
  • Online banking sessions Trojan scheme: fraudsters sends an e-mail asking their target to install certain application software on their computer so as to enable them benefit certain online banking features. Please don’t run this software as it will only help infest your computer with malicious code. Most of these softwares claim to be written by trusted software companies. The virus is called a ProBank banking Trojan
  • Banking Trojan information security scheme: this Trojan targets financial institutions. The e-mail claim to be coming from FDIC mandating banks to run some scripts ending .php to improve security on their server. Know it now that FDIC will never ask you or the bank you represent to run any form of script that is sent over the internet.


Below are listed some possible ways of safeguarding yourself against online, internet and phone identity theft:

  1. Fully scan your computer for any possible malicious attack with a strong and updated anti-virus if you have ignorantly clicked on this malicious link in the past. Seek the assistant of computer techies if you don’t have the know-how.
  2. Do not follow web links in unsolicited e-mails. You can either bookmark the link or copy the link and paste on a new browser. If the link is hyperlinked, never follow it.
  3. Don’t open attachments in unsolicited e-mails.

I hope you have learnt a lot from this hub? I therefore encourage you to help as many people as you can avoid these phishing schemes. One way of doing this is to share this hub with your loved ones. Keep in touch as I will continue to furnish you all with latest techniques of scammers.

To your online and internet security!


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    • chinweike profile image

      Chinweike 7 years ago from Glasgow, UK

      SafeCard, you are very much correct, the problem however is that most law enforcement agents are ill-equipped.

      Thanks for your contribution.


    • profile image

      SafeCard 7 years ago from Charlotte, NC

      Law enforcement should be working on the double with this con men as they don't seem to take a break in innovating their methods.

    • chinweike profile image

      Chinweike 7 years ago from Glasgow, UK

      countrystarr, Yes, it is up to individuals to guard themselves against the activities of scammers and identity theives. And the only way to effective do this is to educate yourself.

      Thanks for your useful contribution. I am currently working on mortgage fraud and foreclosure frauds.


    • chinweike profile image

      Chinweike 7 years ago from Glasgow, UK

      Thanks lorlie6, i feel that people should know these things as they unfold. I can't help but help. Identity theft must reduce or even eliminated. Thanks once again for your comment.


    • lorlie6 profile image

      Laurel Rogers 7 years ago from Bishop, Ca

      Thanks again for such great advice, chinweike!