They frighten or entice you into visiting a phony web page and entering your ID and password.Commonly, the guise is an urgent need to "confirm your identity".It will inform you that you won millions of dollars and congratulate you repeatedly.The catch: before you can collect your “winnings”, you must pay the “processing” fee of several thousands of dollars. The moment the bad guy cashes your money order, you lose.Because it was born out of hacking techniques, “fishing” is stylistically spelled "phishing" by hackers.Tip: the beginning of the link address should have https://. If still in doubt, make a phone call to the financial institution to verify if the email is legit.Remember: reputable credit card companies do charge an annual fee but it is applied to the balance of the card, never at the sign-up.Furthermore, if you legitimately clear your credit balance each month, a legitimate bank will often wave the annual fee.
This phishing con, like all cons, depends on people believing the legitimacy of their emails and web pages.
As for these incredible, pre-approved loans for a half-a-million dollar homes: use your common sense.
These people do not know you or your credit situation, yet they are willing to offer massive credit limits.
A common variation is a woman in Africa who claimed that her husband had died and that she wanted to leave millions of dollars of his estate to a good church.
In every variation, the scammer is promising obscenely large payments for small unskilled tasks.