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In March 2011 the UK Card Association reported that Online banking fraud losses totalled £46.7 million in 2010. This represented a 22 per cent fall on the 2009 figure. 

The factors contributing to this fall include

  • Customers better protecting their own computers with up-to-date anti-virus software
  • Banks’ use of sophisticated fraud detection software.

This decrease has occurred despite a continuing rise in phishing attacks, up 21% from 2009.

UK annual reported banking losses 2006 to 2010 due to Phishing

  2006 2007 2008 2009 2010 % +/-09/10
No of phishing attacks  14,156 25,797 43,991 51,161 61,873 +21%

The link to the UK Card Association Press Release is here

In my last blog post Fraud Intelligence Report – First Quarter 2011 there were some other interesting Phishing statistics:

  • Phish attack volume increased 17% from the previous quarter to 99,800 attacks
  • The number of targeted organizations increased 11% from the fourth quarter of 2010, to 511
  • Attacks per organization increased 6% from Q4 2010 to 195
  • Financial sector accounted for 47% of phish attacks in the first quarter of 2011
  • Payment Services sector accounted for 27%
  • Auction sector phish increased 47% quarter-over-quarter to 5,414 attacks
  • Gaming sector phish increased 60% from the previous quarter to 6,834 attacks
  • Social Networking sector phish increased 40% from the previous quarter to 4,768 attacks

Source of Phishing in quarter one 2011

  • UK grew by 63%
  • Russian-hosted phish grew 93%
  • North America hosted the majority of phishing attacks, with 61% of total attacks in the first quarter
  • Western Europe followed, hosting 19% of phishing attacks in the same period

Read the blog – Fraud Intelligence Report Q1 2011 here

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