Phishing site declared $1.3 B has been recovered from a Madoff Hideout

 Even though it’s a lot of money, only a handful of people are likely to be exaggerated by this phishing scam.

What might happen next are 419 scammers who might make use of like tactics to lure masses with stories that "they have found Madoff's money, and please pay a fee to get a share". Pay money to get money scam.

The "look-alike" site copies the artwork and structural design of the Securities Investor Protection Corp. (SIPC), the group formed by Congress to aid customers of broke brokerage firms that has issued the warning. It claims to represent the "International Securities Investor Protection Corp." in what is explain as a classic phishing site. 

"We know from information present to us by individuals that this bogus group is already attempting to obtain funds and secret financial information from investors in the U.S.," SIPC president Stephen Harbeck said. "We plan to use every accessible means to shut down this illegal operation."

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