Gartner puts phishing tab at $3.2 billion

Gartner puts phishing tab at $3.2 billion

Summary: More than $3 billion was lost due to phishing attacks in 2007, according to a survey conducted by Gartner. For the 12 months ending in Aug.

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More than $3 billion was lost due to phishing attacks in 2007, according to a survey conducted by Gartner.

For the 12 months ending in Aug. 2007, 3.6 million adults lost $3.2 billion due to phishing attacks. About 2.3 million people were hit with phishing attacks in 2006.

A few takeaways from the survey, which surveyed more than 4,500 adults in August.

  • The average dollar loss per incident was $866 in 2007, down from $1,244 in 2006. That sum was diluted by more victims.
  • On the bright side, 1.6 million people recovered about 64 percent of their losses in 2007. That's up from 54 percent in 2006.
  • PayPal and eBay are the most spoofed brands.
  • Phishers are increasingly after debit cards. Among those hit with a phishing attack, 47 percent said they had used a debit card.
  • 11 percent of folks online don't use any security software. Another 45 percent only use what they can get for free.
  • The success rate is improving: 3.3 percent of consumers who got phishing emails in 2007 lost money. In 2006, that rate was 2.3 percent.

My advice: Learn to spell. Because phishers can't.

Topics: Security, CXO, IT Priorities

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2 comments
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  • I hate to say it, but...

    The government is not doing enough. NONE of the governments, especially in the countries where this stuff comes from. As I read it, China, Russia and Germany are the hot spots for this crap. That and malware, spyware, etc....

    Until there is a world-wide, concerted effort to put a stop to these criminals the web will remain the equivelent of a back-alley, where you never know who is gonna konk you over the head next.
    BitTwiddler
    • If you hate to say it, I hate to hear it....

      Why should they? The government isn't losing out, the banks aren't losing out, it's the individual bank accountholders who are losing out. So why should the government get involved?

      It's incumbent on each individual to secure themselves, not the government's. And I don't wanna hear about any of this baloney that "free" software doesn't work as well as "paid-for" software. My home computer runs quite well on free/open-source AV and malware-monitoring/prevention software; there's nothing in NAV or NIS that Avast! or Ad-Aware or ZoneAlarm-Free doesn't do. It just means looking around for several different reputable software titles instead of paying for one large one that just takes over your system's resources and does a half-hearted job of protecting your computer.
      GoodmanCPA-IT Tech