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Hackers Launching More Phishing Attacks to Exploit Recession

Hackers Launching More Phishing Attacks to Exploit Recession

According to a new report from research company Gartner, more Americans are becoming susceptible to online fraud during the current time of economic recession. The company states that over 5 Million consumers in the United States lost cash due to phishing assaults over a 12-month period ending in September 2008, resulting in a 39.8% rise from the preceding 12 months (October 2006-September 2007).

Avivah Litan, Security Analyst at Gartner, says that phishers are continuously taking advantage of the adverse economic conditions, as reported by Business Week on April 14, 2009. Furthermore, scammers are also cleverly using social engineering tactics to trick Web users into disclosing sensitive and confidential information, Gartner said.

Moreover, during 2008, around 80% of the adult Internet users had got an e-mail as part of one phishing campaign or another, a rise from 41% during 2004, reveals Gartner’s report. Among the users who got spam mails, approximately 4.26% reported of money lost to online fraudsters.


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