Report: Banks Make Theft Easy for Phishers

Attackers take advantage of customer conveniences to create fake bank cards.
Robert McMillan, IDG News Service
Wednesday, August 03, 2005
U.S. banks are putting customer convenience ahead of security and, in the process, making it much easier for online "phishers" to create counterfeit bank cards, according to a Gartner report. And with the Internet now a common source of stolen account information, phishers are accounting for a growing portion of the estimated $2.75 billion in annual losses that bank card abuse is costing U.S. banks, the Stamford, Connecticut, research firm said.

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