Given the nature of their business, it is hardly surprising that banks and other financial institutions have become a key target for phishers. Between last May and this April, a fifth of phishing attacks were launched against such organisations, according to research from Kaspersky La
The Russian antivirus software vendor came up with the figure (20.64%) after studying data collected through its cloud-based Kaspersky Security Network. The broader aim of the research was to obtain an insight into the evolution of phishing threats.
The results of the analysis highlight the need for robust protective measures so that financial services providers can keep their customers’ money safe. As Kaspersky Lab notes, banking and e-commerce have understandably drawn the attention of criminally minded individuals. Cyber crooks can mount successful attacks on search pages, social websites and e-mails but all they will get is personal data. This information needs to be sold to make the undertaking profitable. Phishing, however, delivers profit directly. This fraudulent activity involves sending e-mails with invitations to visit a company’s website for some reason. The phishers create a replica of the genuine website and unsuspecting users are duped into entering their credentials, thus giving scammers access to bank accounts and credit card details.
Kaspersky Lab’s estimates are corroborated by data obtained from the banks themselves through the global survey carried out this spring in partnership with B2B International. The results showed that some 37% of banks participating in the survey had been targeted by phishers at least once in the preceding 12 months.