Online Fraud Continues to Rise (APACS)

The BBC reports that a surge in "phishing" in the first half of 2006 has produced a sharp rise in the amount of money being lost to online banking fraud.

The number of recorded incidents rose 16-fold to 5,059, said the Association of Payment Clearing Services (APACS).

That led to a 55% rise in losses from online fraud against banks, reaching £23m in the first half of 2006.