Offer for high-yield CD is probably a scam

The interest rates on certificates of deposit are ridiculously low right now. The average one-year CD in the U.S. pays a measly 0.24% APR, according to

So you might be tempted by an offer for a CD that pays well above the going rate - a staggeringly high 10%, 12%, even 15%.

The scammers who send out this email are hoping you'll be curious enough take the bait and click on the embedded link.

Gerri Walsh a vice president with the Financial Industry Regulatory Authority (FINRA), says that link will take you to a site that looks like it belongs to a legitimate financial institution, but it's not.

"It's really a fraud site that's designed to harvest your personal information, like a bank account number, a Social Security number or some other critical personal identification," Walsh said.

FINRA warns to be especially leery of any CD promotions that appear to come from a U.S. financial institution that claims to be working with an international bank.

"If you're seeing an institution that's not in the U.S., that's a big red flag," Walsh told me.

More Info: High-Yield CDs: Red Flags That Signal a Scam