Debunking email hoaxes and exposing Internet scams since 2003!

Hoax-Slayer Logo Hoax-Slayer Logo

Home    About    New Articles    RSS Feed    eBook    Contact
Bookmark and Share

Federal Reserve Bank "Phishing Attack Warning" Scam Emails

Email purporting to be from the Federal Reserve Bank claims that U.S. Treasury Department has imposed restrictions on federal wire transfers due to a widespread phishing attack (Full commentary below).

Email is not from the Reserve Bank - Links lead to bogus websites

Example:(Submitted, January 2009)

You're getting this letter in connection with new directions issued by U.S. Treasury Department. The directions concern U.S. Federal Wire online payments.

On January 21, 2009 a large-scaled phishing attack started and has been still lasting. A great number of banks and credit unions is affected by this attack and quantity of illegal wire transfers has reached an extremely high level.

U.S. Treasury Department, Federal Reserve and Federal Deposit Insurance Corporation (FDIC) in common worked out a complex of immediate actions for the highest possible reduction of fraudulent operations. We regret to inform you that definite restrictions will be applied to all Federal Wire transfers from January 27 till February 6.

Here you can get more detailed information regarding the affected banks and U.S. Treasury Department restrictions:

[Link to bogus website removed]

Federal Reserve Bank System Administration

Bogus emails purporting to be from the Federal Reserve Bank began hitting inboxes in January 2009. The emails claim that a number of banks and credit unions have been affected by a "large-scaled phishing attack", prompting the FDIC and the U.S. Treasury Department to apply restrictions to all federal wire transfers. The messages urge recipients to click a link, supposedly to open a website that provides more detailed information about the restrictions.

The emails are not from the Federal Reserve Bank and are designed to trick users into clicking links included in the messages. Fedwire services have not been restricted and are operating normally. The FDIC published an alert about the scam on 15th January 2009, which states in part:
The Federal Deposit Insurance Corporation (FDIC) is warning consumers, businesses and financial institutions to be aware of fraudulent e-mails allegedly from the Federal Reserve Bank. The fraudulent e-mails claim that a phishing attack has affected the Fedwire system and that restrictions are in place. The e-mails further instruct recipients to click on links within the e-mail for additional information.

The fraudulent e-mails have included various spoofed names and addresses in the "From:" line of the messages, including "Bank System Administration," "System Administration" and "Federal Reserve Bank."
According to the FDIC alert, the bogus web pages attempt to load malicious trojan horse programs onto the user's computer. Testing of the version of the bogus email discussed here opened a porn site "Welcome" page that promised access to pornographic videos via other links on the page.

If you receive this or a similar email, do not click on any links or open any attachments that the message may contain.

FDIC: Fedwire Phishing Scheme
EMAIL Claiming to Be From Federal Reserve Bank
Fraudulent E-mail Claims of Phishing Attack Against FDIC

Last updated: 28th January 2008
First published: 28th January 2008

Write-up by Brett M. Christensen