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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Brian Pennington 
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