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Story URL: http://www.silicon.com/financialservices/0,3800010322,39170418,00.htm

Banks under attack: Phishing on the rise
US getting battered

By Julian Goldsmith

Published: Tuesday 18 March 2008

Phishing attacks on banking organisations and their customers across the globe has increased steadily over the last six months, according to the latest fraud report from security software specialist RSA.

Security from A to Z

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A is for Antivirus
B is for Botnets
C is for CMA
D is for DDoS
E is for Extradition
F is for Federated identity
G is for Google
H is for Hackers
I is for IM
J is for Jaschan (Sven)
K is for Kids
L is for Love Bug
M is for Microsoft
N is for Neologisms
O is for Orange
P is for Passwords
Q is for Questions
R is for Rootkits
S is for Spyware
T is for Two-factor authentication
U is for USB sticks/devices
V is for Virus variants
W is for Wi-fi
X is for OS X
Y is for You
Z is for Zero-day

The report said the number of banking brands targeted by phishing attacks reached 188 in February, up from a low of 153 in August 2006. Interestingly, European financial services hub Germany does not appear on RSA's list of top phishing destinations.

In a whitepaper published last year, a senior researcher at the company observed: "There are certain geographical regions that are already almost exclusively hit by financial Trojans. For example, in Germany, more than 90 per cent of online banking fraud is the direct result of Trojans. The same can be said for Benelux, Switzerland and other geographies. In these geographies, regulations or laws have mandated strong authentication at login for online banking services which makes simple fraud attacks like phishing, replaying credentials from stolen databases, or brute force guessing less effective."

US banking brands are the most targeted, with 59 per cent of attacked entities being in that country. The UK comes second for the 13th consecutive month, holding 12 per cent of the brands being targeted. Ireland has appeared on the list of banking brand destinations for the first time this month, as has Brazil.