UK Money News
15th April 2008
Apacs: Phishing increases, online security still lax
Rates of phishing - a form of online fraud which can lead to credit card details falling into the hands of thieves - are on the up, it has been claimed.
A new report from payments firm Apacs has shown that more than 10,000 cases of phishing were reported in the first three months of the year - a 200 per cent yearly rise.
Commonly, phishing takes the form of a fake email from the recipient's bank, requesting an update of personal security information.
If these details are entered, the fraudster can then use them to clear bank and credit card accounts.
The association also revealed that many Britons were not taking sufficient steps to protect their own online security - with one in three people found to not own any anti-spyware software.
Sandra Quinn, director of communications at Apacs, said: "Phishing scams are continuing to rise and they are becoming ever more sophisticated, which is why we want to remind people to remain wise to them."
Apacs also said that online banking fraud losses declined by one third between 2006 and 2007 - dropping from £33.5 billion to £22.6 billion.
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