Thursday, November 09, 2006

Phishing scams mainly responsible for 55 percent increase.

Phishing scams mainly responsible for 55 percent increase in online banking fraud in U.K., reports computer world.

The loss figure of $42.8 million isn't broken down by individual financial institutions as per Association for Payment Clearing Services (APACS).

97% of the credit-card transactions within the U.K. are handled by HSBC Bank PLC and Barclays PLC.

Through phishing, criminals try to capture financial details through fraudulent e-mails and sophisticated fake banking Web sites. Account numbers, log-ins and passwords are often then sold online to other fraudsters who try to turn them into profit.

Surely a big chain of professional thieves are roaming the cyber space.

Almost all the e-commerce web sites are relentlessly warning user to check the websites and look for fraudulent SSL certificates.

I would say the users are also responsible of their losses.

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