Bank of America has called in law enforcement authorities to help investigate a fraudulent BofA Web site that was created to dupe bank customers into disclosing personal financial information.
The scam involved an e-mail sent from an individual posing as a Bank of America associate to recipients asking them to enter personal financial information at a Web site masquerading as the BofA site.
The bank says it became aware of the situation within hours of its onset and alerted authorities. The fraudulent site was quickly shut down.
Robin Warren, privacy executive for Bank of America, urges: "It's important to emphasise that our systems were not compromised. This is simply a new twist on an old scam that historically has been done mainly over the phone."
The bank says it does not know how many customers may have fallen prey to the fraudsters. Investigations to uncover the source of the e-mail distribution are ongoing.
Bank of America is reiterating to consumers that they need to be careful with their personal financial information, online and offline. They should not give out details such as credit card numbers, personal identification numbers (PINs) or social security numbers unless the consumer has initiated contact or has verified the legitimacy of the person receiving the information.
"In this electronic age, it's easy for someone to pretend to be something that they are not. Consumers should always check with their financial institutions and verify the authenticity of the person requesting information before giving it out," says Warren.