Crime syndicates are expanding their efforts well beyond big banks and online merchants as they phish for cyber victims, according to a major antifraud collaboration.

"Once, only the largest banks were targeted. Now, every kind of enterprise from banks and credit unions of all sizes to charities to, in a recent case, a hardware manufacturer, are now seeing their brands exploited in all manner of fraud schemes," said Peter Cassidy, secretary general of the Anti-Phishing Working Group.

In its fourth-quarter 2009 report just released, the APWG said the number of hijacked brands reached a record 356 in October, compared with 341 in the previous record month of August 2009.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
  • Educational webcasts, white papers, and ebooks from industry thought leaders.
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.