I got an email from Citibank telling me that they were temporarily suspending my account privileges due to a data compromise. They asked me to log into my Citibank online banking account and update my credit card information. I don't even have an account with Citibank, unless they've bought out my local bank, and I haven't noticed any sign changes there! Why would they want my credit card information, anyhow?
You were smart to catch on to this scam before doing anything. We are amazed at the numbers of people who have been duped by this scam and others like it. The key, of course, is for the scam artist to convince you to click on a "Citibank" link in the email message. That link, however, takes the unwary to a phony website wearing Citibank makeup -- sort of like that old cartoon of the wolf lying in Grandma's bed in her nightcap and lipstick, waiting for Goldilocks. If the victim happens to be a Citibank online banking customer, the wolf gets the online login information. If not, Goldilocks -- our victim here -- might key in her credit card information. Either bundle of information will then be used to plunder Goldilocks' accounts.
These real-life scams aren't like fairy tales. Everyone doesn't get to live happily ever after. You need to protect yourself from scams like this be being internet-savvy. No reputable bank will ever email you to ask for your identifying information. Not Citibank, not any bank.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.