U.S. Capital

Cyber Fraud Report Reveals 297 Percent Rise in Online Phishing Attacks

Dec 13, 2018

New York, NY(Law Firm Newswire) December 13, 2018 – A recent report noted a dramatic increase in the number of fraudulent phishing websites created to target retail store customers. Cyber intelligence firm IntSights collaborated with e-commerce fraud prevention company Riskified to analyze data on hundreds of thousands of illegal online purchases between the third quarters of 2017 and this year.

The companies discovered there was a 297 percent spike in the number of fake retail sites designed to phish for customer information from July to September 2018 when compared to that same period in 2017. The third quarter alone saw an average of 23 phishing attacks per business, marking a substantial increase from last year’s average of 5.9.

“The threat of phishing attacks is very real, so it is always a good idea to be cautious when making online purchases or sharing personal information on the Internet,” said Peter Brill, a New York criminal defense attorney with Brill Legal Group. “A common tactic among phishers is to use another person’s Wi-Fi connection or computer to do the dirty work. This can cause innocent individuals to unfairly have phishing charges leveled against them. In such cases, it is best to contact a skilled defense attorney as soon as possible.

The IntSights and Riskified joint report consisted of a deep dive into how online fraud occurs from start to finish. IntSights examined retail data, illegal product sales and how fraudsters impersonate brands to dupe unsuspecting customers. Riskified analyzed hundreds of millions of transactions from online purchases to identify fraud trends and new scam tactics used by cybercriminals. The report advised consumers to use only trusted, familiar sites and to exercise caution when making online purchases in order to avoid phishing scams.

The new data on phishing attacks comes as a growing number of retailers shift their attention to digital and social channels for increased revenue opportunities. Phishing sites masquerade as real websites but are designed to steal the victim’s contact details, passwords, credit card numbers and other personal information. Phishing can also be attempted through fake emails disguised as actual messages from banks and well-known companies like FedEx and PayPal.

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