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Phishing involves sending emails purporting to be from reputable firms to unsuspecting individuals and also corporate entities to induce then in revealing personal and financial information like passwords, credit card numbers, etc.
“Total amount of losses incurred in third quarter of 2013 are $1.66 Billion. Brands in the US, the UK, India and Australia were targeted by almost 50% of the phishing attacks in Q3 2013,” the report said.
Firms in the US incurred a loss of over $882 million followed by Germany ($294 million), the UK ($133 million), India ($52.9 million), South Africa ($43 million) and others ($261 million), it added.
RSA ranked India fourth most targeted country by phishing attacks receiving 3% of the total volume. Other countries targeted by phishing attacks were US (53%), Germany (17%), the UK (8%) and South Africa (3%), it said.
India ranks third in phishing attacks on brands with 7% of the total volume worldwide. The US with 27% tops the chart followed by the UK with 12%.