Computer Crime Research Center


Card frauds behind phishing

Date: November 08, 2006

There has been a sharp rise in the number of phishing scams targeting online banking customers in the last year.

Online bank fraud losses rose by 55% from 14.5m in the first six months of 2005 to 22.5m in the same period this year according to new figures from APACS, the UK payments association.

The rise in phishing attacks comes in stark contrast to a fall in total card fraud, where the introduction of Chip and PIN appears to be having a positive effect.

Total card fraud fell 5% to 209.3m in the first six months of 2006 from 219.5m in the same period last year.

However, Cardholder Not Present (CNP) fraud, which includes telephone and internet card fraud now accounts for 46% of all losses.
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2006-11-09 12:33:43 - Phishing scams. Yes there has been an... Mike Orton
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