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Win a Million? Don't Count on It

I received notification from the national lottery in an email, saying I won 1,000,000 pounds. I gave them my information, but the transaction asks for a (COT) code. Would this be a scam?


This scenario is so familiar that no research is needed. Ask yourself if you even entered the national lottery, and whether you would have provided an email address if you did enter. The whole purpose of the email message you've described is to trick you into providing personal information such as bank account or credit card numbers, which can be used to hijack an account and steal funds from you. Contact your bank, describe the email - better yet, print it and bring it with you - and arrange to have your accounts closed and reopened, to prevent the scam artist from cleaning out your assets.

Published on BankingQuestions.com 7/17/07