Research Reveals Forces Driving Phishing

Cloudmark Inc. recently announced a study that looks at phishing at a deeper level than the harm it does to consumers or organizations. The report, entitled "The Economics of Phishing" reveals how loosely affiliated, but surprisingly organized phishing networks prepare, launch and distribute money stolen through phishing.

It shows that a phishing marketplace exists where phishers can purchase separate bits of information such as target email lists, scam page templates, and a ready supply of compromised hosts resulting in unrelated, but numerous phishing attacks. It also shows that individual phishers do not need to be especially tech-savvy, but rather they rely on bringing together highly specialized skill sets that enable an attack to occur.

We'll report more on the report's findings once the study is published.

Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 9, 9/05