24 January 2007 | 4,177 views

Phishing Fraud Cases Growing in the UK

Prevent Network Security Leaks with Acunetix

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:
- spt v0.6.0 – Simple Phishing Toolkit Available For Download
- Russian Cyber-Crime Market Doubled In 2011
- Targeted Phishing Attacks Carried Out On Gmail – Likely From China

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

Most Read in Phishing:
- Twitter DM Phishing Scam - 28,881 views
- yahoo password grabber - 19,026 views
- Digital Underground Offering Cheap Botnets For Hire - 14,903 views

Advertise on Darknet

Comments are closed.