24 January 2007 | 4,181 views

Phishing Fraud Cases Growing in the UK

Don't let your data go over to the Dark Side!

Now this is a massive growth, 8000% percent..woah!

Thankfully losses are still ‘modest’ whatever that means, I guess although the attacks grow in
number, awareness an education also increases (in places like UK anyway) so the risk is fairly well mitigated.

UK incidents of phishing scams have grown 8,000 per cent over the last two years, according to the government’s financial watchdog authority. Although losses remain modest compared to other forms of financial fraud, banking security experts speaking before the House of Lords science and technology committee are concerned about the growing prevalence of scams designed to trick consumers into handing over online banking credentials.

The numbers are massively higher as recorded in the UK, and as they say detection quality has also gone up, so that would lead to higher figures. That means as always, the statistics could be in reality rather inflated.

Between January and June 2005, 312 phishing incidents were recorded, a figure that shot up to 5,059 for the first half of 2006, according to figures from UK banking payment organisation Apacs. Improved detection rates are partly behind the increase but even so the growing sophistication of scammers is leading to heavy losses from UK banks.

Apacs security chief Philip Whitaker told peers that scammers had transformed phishing scams from a cottage industry into an industrial process.

As always phishing is on the up, so be wary!

Source: The Register


Recent in Phishing:
- sptoolkit Rebirth – Simple Phishing Toolkit
- ICANN Hacked Including Root DNS Systems
- Hackers Break Into White House Military Network

Related Posts:
- Awareness of Phishing is on the Up – But so are Monetary Losses
- Widespread Flaws in Online Banking Systems
- Australians Propose ‘No Anti-virus – No Internet Connection’ Policy

Most Read in Phishing:
- Twitter DM Phishing Scam - 28,931 views
- yahoo password grabber - 19,102 views
- Digital Underground Offering Cheap Botnets For Hire - 15,301 views

Advertise on Darknet

Comments are closed.