New Scams Target Key Executives, Finance Employees

Arizona Central Credit Union of Phoenix, AZ., was hit with a phishing attack via text message to its members in March. While the attack was distributed on a small scale and didn't have much impact, the incident did roust the credit union staff into quick action.

Sadly, such incidents are a familiar refrain.

Financial institutions throughout the U.S. increasingly report similar phishing attacks. One banking executive who wishes to remain unnamed says, "We have experienced an alarming increase in all forms of phishing over the past year -- at least five to 10 legitimate phishing attempts a day." Another major Arizona financial institution reports that it is seeing anywhere from two to 20 attacks per day against its brand.