Phishing Attacks Pose Heightened Threat

'Spear-Phishing,' Risky Behavior and Poor Protections To Blame

By Tracy Kitten

What's on tap for fraud in 2011? Quite a bit, unfortunately. The list of schemes and trends hasn't shortened from 2010.

The good news: most banking/security leaders are more aware of the risk management and security items they need to check off their to-do lists.

One area where they will inevitably spend investment dollars and time relates to the fight against phishing. Like most fraud, phishing attacks are increasing in number and sophistication. Banks know these are a problem, but fighting back is becoming increasingly difficult.

According to our own research, phishing and vishing rank among the top three fraud threats banks and credit unions currently face. About half of the respondents to our Faces of Fraud Survey say phishing and vishing are major concerns. Interestingly, only 20 percent say they feel prepped to fight and prevent those attacks against their customers and brands.

Part of the concern stems from emerging channels, such as mobile, which are more often used to access online banking.

To read the entire article, click here - http://blogs.bankinfosecurity.com/posts.php?postID=855&rf=2011-01-18-eb