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Gartner : Phishing grew by 40 percent in 2007

SCMagazine reports that an annual study by research firm Gartner has found out that the number of online phishing victims grew by nearly 40 percent in 2007 in the US.

Gartner vice president and research director Avivah Litan told SCMagazine that the report shows that 3.2 percent of adults in the United States lost money because of scams associated with phishing emails. That compares with 2.3 percent in 2006 and 3.0 percent in 2004 (opens in new tab).

Online scams will cost millions of consumers nearly USD 3 billion in 2007 according to conservative estimates.

Criminals become smarter and run scam schemes on an industrial scale as this is a "low risk, high yield" crime; this compares to USD 1.2 billion (opens in new tab) in 2003.

British banks lost nearly tens of millions of pounds (opens in new tab) in 2006 to online phishing and scam schemes.

SCMagazine also writes that IBM Internet Security Systems warned about an upsurge in the number of bogus coupons that are sent to email users.

This phenomenon likely to grow in the days leading to Christmas, as Punters look for the best online deals.

Désiré Athow

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.