Phishing Attacks Are Soaring in UK, Says APACS Report

According to a recent report from UK’s payment authority, APACS, as many as 20,682 cases of phishing frauds have been reported in the first half of the year, as compared to 7,224 cases reported for the same period of 2007.

These attacks include sending fake official emails to targeted customers in form of official requests, asking them to enter their online banking details, or simply guiding them to a bogus website that resembles the bank’s original website.

Urging online banking customers to be alert against phishing frauds, APACS’ Communication director Sandra Quinn mentioned the need to regularly update antivirus software and use firewalls.

She further stated that online banking customers need to be wary of emails that claim to originate from their banks.

However, APACS have reported a significant reduction in monetary losses incurred due to phishing attacks, as the amount lost through these attacks has reduced by 33 percent during 2007.

The report also stated that the number of people utilizing online banking facilities have massively increased from 3.5 million in 2000 to almost 21 million in 2007.