Getting unsuspecting web users to give up passwords and login names for the bank and credit card services has grown into a full sized industry. The trade is dominated by crime gangs from South America and Eastern Europe, says eWeek.
Websites that try to fool unsuspecting web citizens into disclosing confidential information have an average life of 3 days, with most of the actual phishing activity taking place in the first hours of their brief life online.
A rare arrest inside the US saw the arrest of Adnrew Schwarmkoff, an alleged member of a Russian crime group running phishing schemes. When he was arrested last October, police found data belonging to more than 100 viticoms, $15,000 in cash and thousands of dollars worth of stolen merchandise.
In another case, police in Brazil raided several homes and businesses of a phishing ring. The group had been responsible for a total of $30m in in stolen cash and property. Over 50 suspects were arrested.
Do you need another reason to think twice before you hand out personal information?
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