In their July Online Fraud Report RSA reports on the activity of online fraudsters, full summary below.

Phishing attacks continue to increase around the world. In the first half of 2012, the RSA Anti-Fraud Command Center identified 195,487 unique phishing attacks, an increase of 19% as compared to the second half of 2011.

Global fraud losses down despite a 19% increase in phishing attacks

Despite the increase, however, fraud losses from phishing are on the decline. RSA estimates that phishing attacks in the first half of 2012 could have potentially caused $687 million in total losses to global organizations. It is also worth reading my previous post “A new report indicates that UK fraud has fallen by 50% in the last 12 months…”.

So why are fraud losses decreasing? One reason is that the industry is simply getting better at fighting back. A major factor in determining fraud losses caused by phishing is measuring the lifespan of an attack. The longer an attack is live, the more victims there are that are potentially exposed and at risk of having their credentials stolen. By reducing the lifespan of a phishing attack through early detection and shutdown, organizations narrow the window of opportunity for cybercriminals to commit fraud.

In the first half of 2012, the top ten countries that experienced the highest volume of phishing attacks include:

  1. United Kingdom
  2. United States
  3. Canada
  4. Brazil
  5. Netherlands

There have been major increases in phishing attack volume in some countries, while in other countries, it has declined slightly. One of the most significant increases was in Canada where phishing increased nearly 400% in the first half of 2012. There have been many observations as to why the sharp increase, but the main reason is simply economics, fraudsters follow the money. See my previous blog “Criminal logic; follow the money and find easy targets”. With the Canadian and U.S. dollar being exchanged at nearly a 1:1 ratio, Canada has become a lucrative target for cybercrime.

On the other hand, the U.S. experienced a 28% decline in phishing volume in the first half of the year. Other countries that have seen phishing volume decrease include Brazil, the Netherlands, Germany, Australia and South Africa.

Phishing Attacks per Month

In June 2012, phishing volume grew considerably. RSA identified 51,906 unique phishing attacks, a 37% increase. The recent spike in phishing volume can be partly attributed to the advanced technology and fraud services offered by cybercriminals in the underground including ready-made spam databases, custom coded malware designed to automate site hijacking and the hosting of malicious pages, as well as sophisticated spambot services.

Number of Brands Attacked

Despite the huge spike in phishing volume, the number of brands targeted by phishing attacks throughout the month of June decreased 13%.

US Bank Types Attacked

In the U.S. financial sector, nationwide bank brands saw a 16% increase in phishing volume in June while credit union brands saw a 10% decrease and regional bank brands saw a 6% decrease.

Top Countries by Attack Volume

The UK endured the largest volume of phishing attacks in June, despite seeing a drop of 21% in attack volume (from 63% to 42%). Canada was the country with the second largest volume of attacks, with a considerable increase from 3% to 29% in June. A surprising newcomer, Norway, experienced 2% of phishing volume.

Top Countries by Attacked Brands

The U.S., UK and Australia remain the three countries whose brands are most affected by phishing – targeted by 43% of phishing attacks in June. Brands in India, Brazil, Canada, Italy and China also remained heavily targeted by phishing in June.

Top Hosting Countries

The U.S. continues to be the country that hosts the most phishing attacks. In June, six out of every ten phishing attacks were hosted in the U.S. Russia and Poland – both newcomers to the Top Hosting Countries list – hosted 5% of attacks.

Previous RSA Online Fraud Report Summaries:

  • The RSA June 2012 Online Fraud Report Summary here.
  • The RSA April 2012 Online Fraud Report Summary here.
  • The RSA March 2012 Online Fraud Report Summary here.
  • The RSA February 2012 Online Fraud Report Summary here.
  • The RSA January 2012 Online Fraud Report Summary is here.
  • The RSA December 2011 Online Fraud Report Summary is here.
  • The RSA November 2011 Online Fraud Report Summary is here.
  • The RSA October 2011 Online Fraud Report Summary is here.
  • The RSA September 2011 Online Fraud Report Summary is here.