Phishing: An Insidious Threat to Financial Institutions

Phishing

Phishing scams—the use of fake E-mails to dupe people into yielding up their account numbers and passwords—is on the rise. Hijacking brand names of banks, e-retailers and credit card companies, phishers often convince recipients to respond. Technical subterfuge schemes plant crimeware onto PCs to steal credentials directly, often using Trojan keylogger spyware.

During the month of November, according to the Anti-Phishing Working Group, 17,000 unique phishing reports were received and 1,000 password-stealing code URLs identified—both records. Financial services continues to be the most-targeted sector accounting for 90% of all attacks.

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