Computer Crime Research Center


Phishing could be stopped

Date: October 21, 2005
By: Iain Thomson

Phishing could be stopped very quickly if banks were made responsible for the losses incurred, according to security guru Bruce Schneier.

Writing in his Crypto-gram newsletter Schneier noted that, while new anti-phishing laws might have some effect, the problem will not be resolved until the financial institutions take responsibility for fraud, thus giving them an incentive to stop it.

"Push all of the responsibility for identity theft onto the financial institutions, and phishing will go away," said Schneier.

"This fraud will go away not because people will suddenly get smart and quit responding to phishing emails, or because California has new criminal penalties for phishing, or because ISPs will recognise and delete the emails.
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