Having Caller ID does not protect you from telephone fraud. A relatively new scam known as Caller ID spoofing is being used to fool the telephone customer into accepting a call he or she might not otherwise accept.
 
While Caller ID spoofing has been available for some time for legitimate purposes such as law enforcement, the rise of Voice Over Internet Protocol(VoIP) service has put the technology within the reach of scammers.
 
The scammer, or “spoofer,” goes to a web site that provides the spoofing service for a fee. They input the number they wish to call as well as the fake Caller ID information they wish to appear on the recipient’s Caller ID device. The call is then completed displaying the false, or spoofed, Caller ID information.
 
One of the most dangerous tactics these spoofers use is to have the Caller ID device display the telephone number and name of the consumer’s local bank, credit union, or other trusted business. Seeing their own bank or credit union’s name and telephone number on the Caller ID device makes consumers more likely to divulge confidential account information. The spoofer can then use this information to steal the consumer’s money or make unauthorized charges.
 
REMEMBER: Always be suspicious of any caller that asks for confidential information such as your social security number, credit card or bank account number, or personal identification number (PIN).  Hang up and call the institution back using their published phone number.