Phishing For Trouble

Estimate of losses from phishing attacks

Published: Jan 11, 2012
Phishing For Trouble
Image: Illustration: Sameer Pawar; Images: shutterstock

India faces the third largest number of phishing attacks in the world, after the US and UK, according to a RSA FraudAction Research Lab report. A majority of these were targeted attacks aimed at leveraging known brands. This was done by sending emails that attempted to fool recipients. It is estimated that worldwide losses from phishing attacks alone amounted to over $520 million during the first half of 2011.

USA
Estimated losses from phishing:
$177.3 million
% of global phishing attack volume: 34
% change in attack volume:
-3

UK
Estimated losses from phishing:
$63.9 million
% of global phishing attack volume: 12
% change in attack volume:
-15

India
Estimated losses from phishing:
$27.8 million
% of global phishing attack volume:
5
% change in attack volume:
3

China
Estimated losses from phishing:
$10.3 million
% of global phishing attack volume:
2
% change in attack volume:
-5

Brazil
Estimated losses from phishing:
$16.1 million
% of global phishing attack volume:
3
% change in attack volume:
3

Australia
Estimated losses from phishing:
$23.3 million
% of global phishing attack volume:
4
% change in attack volume:
3

Note: Average uptime for a phishing attack is 15.3 hours, costing $300 per hour when an attack is live. Period compared is first half of 2011 with second half of 2010.

Source: RSA FraudAction Research Lab
Co-ordinated by Bharat Bhagnani

(This story appears in the 20 January, 2012 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)

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