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Online Phishing Scams Increase in Q1 of 2008

On June 3, 2008, MarkMonitor, Enterprise Brand Protection Provider, disclosed the consequences of online threats to brands. The most famous brands are targeted online and the companies in which abuse is taking place are hampering the most.

The MarkMonitor Researchers said that the online travel scams are made to attract shoppers from authentic e-commerce channels and the trading of questionable commercial aircraft parts on consumer auction sites and business-to-business channels. Further, business-to-business channels are not only attacked by brandjackers but they are also the victims of spam ready to install spyware on their system and to siphon business from authentic brands.

Also, mixed abuses are the new ones to attack travel scam. They blend several tools like malware, spam, and pay-per-click fraud to infect the shoppers' system with virus and spyware. Further, Search Engine Optimization techniques are also diverting the users towards illicit sites containing questionable data like adult data instead of authentic travel brands.

MarkMonitor CEO, Irfan Salim said that shockingly, cyber criminals find the net full with opportunities to make themselves rich by violating important brands and user's trust. Salim also added that the brand holders have to work hard to safeguard their brands from online threats otherwise their user's reputation and revenue can be damaged, as reported by BusinessWire on June 2, 2008.

Another form of brandjacking, cybersquatting, increased by 40% in Q1 of 2008. On the other hand, pay-per-click fraud diminished by 42%. Also, phishers attack fewer new companies and 90% of phishing activities are aimed at small number of brands.

The MarkMonitor Researchers said that the number of companies phished in Q1 of 2008 remained the same as it was in Q4 of 2007 at 408, indicating an almost 8% increase. Further, in Q1 2008, the number of companies attacked by phishers reduced to 102. Around 14 companies estimated for almost 90% of total phishing URLs. In Q1 of 2008, phishing attacks against auction brands consist 60% of total phish attacks.

But in Q1 of 2008, the figures of phishing attacks against service/retail brands were reduced by almost 85%, same as it was in Q1 of 2007. This trend shows seasonal rise in phishing attacks against retail service brands in the pre-holiday season. Around 21% sites hosted in US in Q1 of 2007 and it rose to 34% Q1 of 2008.

Related article: Online Card Fraud Shows Greater Tendency Than Chip and Pin

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