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Phishers target bank security upgrades: RSA

By Munir Kotadia, ZDNet Australia
12 December 2006 01:26 PM

There was a spike in phishing activity last month, with fraudsters targeting an increasing number of brands and using more sophisticated tools to try and fool online banking customers, according to the RSA Online Fraud Intelligence Report for November.

According to RSA, which recently became the security division of storage firm EMC, an increasing number of financial institutions have been upgrading their online banking systems in order to comply with US regulations. Phishers have been using the upgrade activity to try and exploit users.

Just over a year ago, five US banking regulators — under the FFIEC umbrella — advised financial institutions to “deploy security measures to reliably authenticate their online banking customers”. The global nature of the banking industry means that any such regulations in the US are at least partly relevant for financial institutions based in Australia.

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