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May 13th, 2009

Spam On Spam



This blog makes it a point to educate our readers on the latest scams and fraud that’s proliferating through the market. As the amount of Federal spending programs has increased, so has the number of fraudsters working every angle to get their hands on that same money.

In late April we warned homeowners in particular not to be fooled by “professional-looking advertisements, commercials, face-to-face introductions, and especially fake Federal or governmental services” as they pertained to foreclosure assistance and loan modifications.

Just this morning we received this email from “administration@usbank.us” warning us of a “country-wide phishing attack…” This spam email used the idea of fraud in order to commit more fraud.

Note the “Federal” sources (Treasury Department, Federal Reserve, FDIC), as well as the “Federal-looking” email and link:



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.

A country-wide phishing attack began on May 6, 2009. It’s taking place hitherto. Therefore 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 May 12 till May 25.

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

[Link Removed]

Federal Reserve Bank System Administration

Please don’t attempt to respond to the email address above. Our best guess is that the link will take you to a new web page that will likely ask you to “re-enter” some form of your account information. Once any account or other personal information is provided, scammers will use it to steal your identity and/or empty your bank account.

This is just another example of the many strategies used by scammers to take advantage of the public.

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About the HSH Blog

HSH.com's daily blog focuses on the latest developments in the mortgage and housing markets. Our mission is to relate how changes in mortgage rates and housing policy, as well as the latest financial news, impacts consumers, homebuyers and industry insiders alike. Our 30-plus years of experience in the mortgage industry gives us an edge as we break down the latest changes in an ever-changing market.

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Tim Manni

Tim Manni is the Managing Editor of HSH.com and the author of their daily blog, which concentrates on the latest developments in the mortgage and housing markets.

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