February 01, 2005

Cyota reports "almost 5% have been hooked in phishing"

I know some have been banding around these ridiculous figures of phishing success, but I simply discounted them as being ridiculous. Yet, a new survey by Cyota in New York has said the same thing: "almost 5% [of banking account holders] admitted to responding and divulging information."

We're in the wrong business. Here are the other key results:

Key results found in the survey include:

  • 50% of accountholders have received at least one phishing email, compared to less than 25% back in April - representing 100% growth in just six months.
  • 44% of online bankers utilize the same password for multiple online banking services - a password obtained by the fraudsters can be used at a number of banks.
  • 37% of online bankers use their online banking password at other, less secure sites - these sites are typically less protected and this poses a security risk for banks.
  • 79% of accountholders check for the little lock on the bottom of a secure web page, however less than 40% actually click on the lock to view the security certificate. Cyota's Anti-Fraud Command Center (AFCC) confirms: lock image can be and is easily spoofed by fraudsters.
  • 70% of accountholders are less likely to respond to an email from their bank, and more than half are less likely to sign-up or continue to use their bank's online services due to phishing.
  • Nah... I cannot believe that "79% of accountholders check for the little lock..." And, as for "less than 40% actually click on the lock" ... well, I guess that includes 4%.

    Posted by iang at February 1, 2005 08:01 PM | TrackBack
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