Phishing Scams Reported to be Rising Steadily

According to statistics given by APACS, the UK payment body, phishing scams rose 180% during January to June 2008 over the same months in 2007. A phishing scam involves sending of fraudulent e-mails by criminals to consumers, purporting to arrive from the recipients' banks. These messages instruct the recipients to click on a given link and enter their password and account number.

APACS also reported that over 20,600 phishing incidences involving UK banks and customers of building societies during January to June 2008 took place, compared to about 7,200 during the same months in 2007.

The agency, therefore, warns Internet users not to answer such emails by either providing any information (real or false) or letting the fraudsters understand that they have recognized the scam, as such acts could put recipients' systems in danger of computer malware attacks. One such malware called spyware allows criminals to monitor users' computer activities, including viewing passwords and similar sensitive information while the user remains ignorant of everything.

Meanwhile, a spyware program that potentially steals security details like usernames and passwords, is an another form of scam that is a hot favorite of criminals. Usually, the fraudsters dispatch e-mails in large numbers to consumers and get them to click on a link to view a fraudulent Website that loads the malware.

The payment body also reported that the total number of online banking users has risen 500% in the last seven years, taking the number to more than 21 Million in 2007. It further said that over 50% of bank customers today transact through internet, therefore, criminals frequently target those people through spyware and phishing scams.

Furthermore, APACS predicts that the number of online banking customers would increase as payments via the Internet become much quicker than other methods, with banks introducing new systems this year (2008). Hence, these developments are likely to raise the possibilities of higher success for phishers.

Moreover, APACS said that banks do not send e-mails to customers, asking them to disclose PINs, or login details, so users must not reveal these details on the Internet.

Related article: Phishing With A Redirector Code

» SPAMfighter News - 8/6/2008