The Evolution of Online Fraud

20 Jul
Most of us are familiar with the term ‘phishing’. ‘Pharming’ is self explanatory. One can assume what ‘phaxing’ is. ‘Vishing’, however, is a new one for me. Is it my imagination or has the world of technology developed a language of its’ own?

As much as I poke fun at these terms, they are not funny. They define the many ways cybercriminals are taking advantage of the conveniences available on the ‘Net. In the whitepaper ‘The Evolution of Online Fraud‘ Sophos explains how cybercriminals are using both technology and user ignorance to make profitable schemes.

Taken from this whitepaper, “‘The APWG’s (Anti-Phishing Working Group) January 2007 report revealed an increase of 67.4 percent in phishing attacks over the same month in 2006“. Seeing increases like this make it essential we do not turn our backs on cybercrime but rather put security measures in place to prevent them.

The Evolution of Online Fraud‘ examines several techniques used by cybercriminals, what we should be watching for and suggestions how to prevent these invasions.

For me, this paper confirms what I hear and read in the news, forums and blogs everyday but never think could happen to me. This is a must read for everyone.

One final comment on the terms ‘phishing’, ‘pharming’, phaxing’ and ‘vishing’. Only one can be found in the Merriam-Webster online dictionary. Yet another confirmation that technology is in a world of its’ own.

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