Formulating an effective anti-phishing strategy is vital. Phishing is a simple, effective internet con. It is hard to counter, but is growing fast. New twists and targets appear every week. On the bleakest interpretation it could threaten the very foundation of e-commerce itself: consumer trust. Mechanically the con is straightforward. The con artist, or phisher, uses a mass-mailing tool to email a large audience, pretends to be from a bank or some other institution, and asks the recipient to click on a link to verify credential details. Those recipients who have a relationship with the target institution may provide the phisher with personal details, such as banking information, which can then be used to defraud them. The institution is also a victim – its customers learn not to trust communications from it and may start to question the whole e-commerce relationship. Full Story
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