Risk: Informational
The Financial Services Authority (FSA) recently revealed that online fraud has increased by 8000% over the last two years.
From January to June in 2005, there were 312 recorded phishing sites, and in the same period last year, that figured leapt to 5059. The amount of cash stolen through phishing sites during 2006 amounted to roughly £45.7 million.
Despite calls for the most targeted organisations to be named, officials have so far declined to do so.