Phishing Attacks Rapid Rise - EMC

Social Networking Causing A Steady Rise in Online Crime

 

 

 

Three in ten people have fallen prey to phishing attacks; a six-fold increase in just two years, according to RSA, The Security Division of EMC which has revealed the results of its 2010 Global Online Consumer Security Survey.

 

 

The global survey by EMC's security division polled more than 4,500 consumers about online threats. It found Consumers are now more aware of phishing threats, but sophisticated new attack methods have duped six times as many people  in the past two years. The result is that two out of three people are now  reluctant to share information on social networks.

 

 

The survey found that, consumer awareness of phishing attacks has doubled between 2007 and 2009, but the number of consumers who reported falling prey to this attack had  increased six times during that same period.

 

 

And while hundreds of thousands of people join social networking websites every day, the survey found that  65 percent of people who belong to online communities indicated they are now less likely to interact or share information, due to their growing security concerns.

 

Social networking websites have become a hotbed for online criminals because of their global reach and the participation by hundreds of millions of active users from all walks of life. This makes these communities prime targets for exploitation by criminals who seek to steal personal information through socially engineered attacks.

 

Highlighting this trend, the survey found that 81 percent  of people using social networking websites were now concerned  about the safety of their personal information online.

 

"Fraudsters continue to fine-tune their array of tactics that result in millions of computers becoming infected with Trojans and other malware," said Christopher Young, Senior Vice President at RSA.

 

"These online criminals are adept at social engineering with at-the-ready phishing attacks that are launched within moments of breaking news about popular celebrities, professional athletes or serious global events.

 

In these cases, people are lured to legitimate websites infected with malware as well as complete fakes designed to look like well-known news sources. Trojans can easily be masked as ‘required' updates to a media player which can result in countless computers becoming infected with malware. While it's difficult to prevent consumers from visiting these websites, we can do a better job of protecting those who do," said Young.

 

 

In the 2007 RSA survey, one in three (38 percent)  of consumers reported they were aware of the threat of a phishing attack - and this figure doubled in two years,  so now three in four (76 percent) have become aware. Additionally, nine in ten consumers (89 percent) reported concerns caused by the threat of phishing.

 

Despite this  increased awareness, a growing number of online users have fallen victim to  phishing attacks. In the 2007 RSA survey, only one in twenty (5 percent) consumers  had fallen victim to a phishing scam. This had increased  by six-times in 2009 to represent three in ten (29 percent) consumers.

 

"This increase can be attributed to more advanced communications tactics and greater sophistication such as improved writing and web design skills on the part of the fraudsters. Phishing attacks have also evolved in an attempt to exploit users in different ways and through a broader variety of methods including offshoots known as "vishing", "smishing" and "spear phishing," said Young

 

The sheer volume of phishing attacks launched in recent months is also contributing to these trends. The RSA Anti-Fraud Command Center recently reported their highest-yet detected rates of phishing attacks between August and October 2009 and a 17 percent increase in the total number of attacks between 2008 and 2009.

 

An increase in consumer knowledge of online threats is further evident from the growth in the number of respondents that expressed awareness of Trojans. In 2007, 63 percent of consumers stated that they were aware of Trojans and in 2009 that figure climbed to 81 percent.Consumers' safety concerns translate to significant eagerness for better identity protection

 

Online banking continues to provide significant levels of convenience for consumers, with quick access to checking and savings accounts, the ability to pay bills automatically, transfer funds and perform other financial transactions. There is dramatic adoption of the use of social networks in which people use to form and nurture personal and professional relationships with each other. Finally, healthcare organisations as well as local, state and federal government agencies are bringing the power and convenience of online services to the consumer - offering access to personal healthcare records, driver's license renewals and payment of tax bills.

 

The RSA survey revealed that consumers using online banking (86 percent) websites shared more concern with the theft of their personal information than those using healthcare portals (64 percent) and government websites (68 percent). As a result of these concerns, more than half of all consumers reported that they are less likely to share information and interact on these websites.

 

Consumers agreed that their identities should be better protected than a simple username and password on social networking (59 percent), healthcare (64 percent), government (70 percent) and online banking (80 percent) websites. Nine in ten consumers are willing to use a stronger form of security if offered.

 

Young continued, "Consumer education and awareness is one of the first lines of defense in the ongoing battle against online crime. Organisations will continue to take advantage of the many benefits offered by the Internet and consumers will seek the convenience offered online - all despite the inherent risks. In order to maximise the full value of what the online world can offer, organisations need to take a layered approach to Internet security in order to best protect their customers' information."

 

 

RSA, The Security Division of EMC, is the premier provider of security solutions for business acceleration, It offers industry-leading solutions in identity assurance & access control, data loss prevention, encryption & key management, compliance & security information management and fraud protection. These solutions bring trust to millions of user identities and the data that is generated.

 

 

EMC established a presence in Ireland in 1988 with its first manufacturing facility outside of North America in Ovens, Cork. It then formed its Dublin based sales office in 1990 and Belfast in 2005. EMC now employs over 1,600 people in Ireland between both sites. Last year EMC celebrated its 20th Anniversary in Ireland and announced a €20 million investment in its local Research and Development Centre.

 

EMC's Cork facility has become a multifunctional campus and home t oEMC's International Operations. It has emerged as a leader in EMC's initiative to develop and manufacture energy efficient information infrastructure technologies. In addition to the manufacturing facility, the Cork site also includes the International Executive Briefing Centre, the Global Solutions Centre, Worldwide Customer Service Centre, VMware Support Services, Software Development and Shared Services functions. EMC in Ireland today claims some of Ireland's most recognised organisations as its customers.

 

 

 

 

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