Cyveillance Online Financial Fraud and Identity Theft 2007 Report highlights latest threats and most widely targeted industries
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Cyveillance, has announced its latest report, â€œOnline Financial Fraud and Identity Theft 2007,â€ which highlights the growth of Internet attacks and identifies the industries most at risk. Using intelligence collected through its advanced Internet monitoring technology, Cyveillanceâ€™s security experts have identified that the two leading online identity theft risks, phishing and malware, increased significantly in the first two months of 2007, with the number of brands being phished growing by 50 percent and malware attacks growing by 200 percent. As part of its research, the company has also specifically identified more than 1 million suspected stolen social security numbers on the Internet, in just the last two months.
Phishing attacks were one of the biggest increases that was monitored during the past 12 months with virtually every large financial institution and a growing number of small to medium-sized financial institutions being the most often targeted. Sample Phishing email.
The number of companies being phished has been consistently growing by more than 200 new brands each quarter, with a recent increase of 50% from January to February, up from 800 to 1,200 unique brands phished. The largest increases in Phishing attacks have targeted organizations in the following industries:
1. Credit Unions â€“ 584 percent increase
2. Associations â€“ 329 percent increase
3. Banks â€“ 325 percent increase
4. Insurance â€“ 300 percent increase
5. Payment Services â€“ 285 percent increase
The sophistication of malware contributing to the increase in online risks with its evolution from a simple nuisance to more malicious threats focused on financial gain. This has contributed to an increase of more than 200% growth of malware threats during January and February 2007, with well over 1 million unique Web pages containing some type of malware. Trending data shows that in December 2006, the average number of URLs detected with malware averaged less than 20,000 on a daily basis. By February 2007 this average had grown to approximately 60,000 sites daily, with a single day mid-month spike of close to 140,000. This data points to significant long term growth of this risk, as more individuals and organizations view malware as a revenue-generating fraud technique.
â€œAs our research shows, the breadth and depth of online risk are on the rise, with increasingly elaborate attack schemes and tactics,â€ said Panos Anastassiadis, CEO of Cyveillance.
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The number of companies being phished has been consistently growing by more than 200 new brands each quarter, with a recent increase of 50% from January to February, up from 800 to 1,200 unique brands phished.