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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