Big phish to fry

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Phishing is as lucrative as it is prolific. According to the latest official figures from UK payments body, APACS, phishing scams and Trojan keystroke loggers were behind UK online bank fraud totalling £12m in 2004; while BlackSpider Technologies estimates that nearly seven million phishing emails have been sent across the UK in the last month alone.

So, how are phishers relieving us of our savings? There are essentially three ways that phishers perpetrate their scams. The first and most common method is social engineering, duping recipients into divulging their login names and passwords. Typically, this is done by encouraging users to ...

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