Online attacks targeting a consumer’s identity are increasingly becoming the most lucrative and most rapidly increasing sources of crime in the world. Indeed, studies suggest that in 2006 more than $49.3 billion was obtained by criminals using online identity theft on US consumer victims alone.
The increased volume of online attacks and data breaches are impacting consumer confidence and online adoption. In addition, the losses incurred by users have increased by more than 100% year on year. According to a December 2007 report by Gartner, 3.6 million adults lost money to phishing attacks in the 12 months ending August 2007. This is compared to 2.3 million who lost money in 2006. All told, US $3.2 billion was lost to phishing in 2007.
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