Online bank fraud rises as phishing criminals redouble efforts

JMH · Sep 30, 2012

A resurgence in phishing attacks has caused a sharp rise in the sums being lost to online credit and debit card fraud, half-year figures from the UK Cards Association have shown.

Between January and June of 2012, online banking losses reached £21.6 million ($35 million), a 28 percent rise on the same period a year earlier. Telephone banking fraud reached £6.7 million although this represented a 21 percent fall as criminals moved to the preferred medium of web-based fraud.

Total card not present (CNP) fraud, which includes old-fashioned cheque fraud but *excludes* online bank and telephone fraud, was fairly static at £115.8 million, which underlines the extent to which bank and other online fraud represents the growth crime.

http://news.techworld.com/security/...-phishing-criminals-redouble-efforts/?olo=rss

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Online bank fraud rises as phishing criminals redouble efforts

JMH

Emeritus, Contributor