You have received an official e-mail from the Bank of Devry, and you open it to see what they have to say because you truly do have an account with the bank. The bank informs you that you need to log-in to your account and update your personal information. The bank further tells you that by not complying to this urgent update within 72 hours would result in you losing your account.

You are concerned because you have been with the bank for many years and you trust them and do not want to lose your account. Conveniently located at the bottom of the e-mail was a link directly to the bank. You click on it, being brought to the Bank of Devry site. The page asks you to complete all of the information asked for: Name, Address, Social Security Number, Account Number, Online ID, Passcode, Last Eight Numbers of ATM/Debit Card, ATM/Debit Card PIN, Routing Number, and E-mail Address.

You eagerly comply, answering all of the questions asked, then click enter, sit back, and rest assured that you have properly updated your account.

In a 1–2 page analysis, answer the following questions and be sure that any outside sources are properly cited and referenced:

Do you think that this is a legitimate e-mail? Why or why not?
What action should you take if you receive an e-mail similar to this?
If a fraud scheme has occurred here, what type of fraud has occurred? What clues exist in an e-mail like this that should concern you?
What steps should you take if you know that this is a fraudulent e-mail?