Businesses, organizations and consumers around the world are continuing to fall for phishing scams, it has been claimed.

Writing for The Star, Wendy Knowler said phishing activity continues to blight the world of internet commerce and online banking.

She explained that, despite attempts on behalf of the major banks to combat the problem, large sums of money are still being lost each year.

“In the case of internet fraud, fraudsters send out what are referred to as phishing emails, purporting to come from their bank,” Ms. Knowler explained.

“These ask for the recipient to click on a link, embedded in the email, to update their security settings or internet banking settings.”

Should the recipient comply – and the link has not yet been shut down by the bank’s security division – and go on to supply their bank passwords, their accounts become exposed.

The fraudster may then be able to conduct electronic fund transfers to a number of beneficiary accounts, Ms. Knowler told the news provider.

According to one bank, loss is always a result of the account holder – or someone they know – falling for a phishing email and clicking through a link.

“So there’s a big flashing warning for anyone who has given their internet banking passwords to a trusted colleague or relative,” the writer stated.

She said people should never take their eyes off their card, not even for a second, or key their PIN number in without using their other hand as a shield.

Businesses may be able to protect themselves from counterfeit fraud through the use of phishing protection services, which help keep confidential information safe.

These can help avoid phishing attacks, and reduce their duration by more than two-thirds.

Phishing remains a problem for businesses online
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