FRAMINGHAM, Mass. – Phishing schemes will cost financialinstitutions in the U.S. and abroad up to $400 million in fraudlosses this year and are unlikely to abate without concertedefforts to improve e-mail security and authentication technology.That figure and assessment comes from a new report by SophieLouvel, a research analyst with Financial Insights. Louvel saysthwarting the soaring impact of the schemes, which typicallyattract consumers to real-looking Web sites, will require goingbeyond the current emphasis on detection to developing “significantand widespread security enhancements to e-mail technology that,including sender authentication.” The $400 million figure is fordirect losses alone. The impact also is felt in additionalorganization costs and erosion in consumer trust, Louvel says. Shedid note that the recent surge in e-mail phishing attacks hascreated a sense of urgency among financial institutions, largeISPs, security specialists, law enforcement agencies and universityresearchers now working together to agree on technology solutionsand best practices. “However, until e-mail authentication standardsand new anti-phishing solutions are widely adopted, phishing willcontinue to be a popular identity theft tactic,” Louvel says.