PhishTank: PayPal, eBay most misrepresented by phishers

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A new online community that tracks phishing sites released its first month's statistical review this week.

PhishTank, a community-based organisation run by OpenDNS, found that the leading brands misrepresented by phishing scams in October were PayPal and eBay. All others that made the top ten list were banking entities, including Bank of America, Wells Fargo and Key Bank.
Approximately 7,000 possible phishing scams were reported by PhishTank members in October, with over half being verified by the organisation as phishing messages.
According to the group's compiled numbers, the United States led the pack with 24 percent of the reported phishing sites hosted in the country. The U.S. was followed by South Korea with 14 percent and India with 8 percent.
Analysts with Gartner predicted recently that phishing could create a reluctance to do business online that potentially will inhibit U.S. e-commerce growth rates by 3 percent through 2008. The firm said that an estimated 2.42 million U.S. adults reported losing money through phishing attacks and that total financial losses due to phishing added up to USD$929 millon in 2005.
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