Criteria C

I apoligize for posting this section late, but i had a problem with the internet therefore was not able to do it at home.



Phishing is an e-mail fraud scam conducted for the purposes of information or identity theft. Credit card companies like Visa and also banks like the Bank of America would be interested in phishing and how it could be stopped or minimized because phishing could ruin their company. Phishing could have a lot of impacts on people’s life. It could leave them broke, with no money. Some people might even fall sick as a result of being scammed because their only savings might have being scammed from them. Phishing could also have a reasonable impact on people’s ethics like their responsibility, accountability for instance. Phishing victims might not be trusted by their employer or even their friends. Their respectability and dignity might also be affected. People won’t trust them because they would think that they are thieves. According to a research by David Geer called “security Technologies, Go phishing, “For the 12 months ending April 2004, said analyst Avivah Litan with Gartner Inc., a market research firm, “there were 1.8 million phishing attack victims, and the fraud incurred by phishing victims totaled $1.2 billion.”. We can see that there are a lot of phishing scams per year and the cost incurred are a lot. Geer explains the steps being taken to reduce phishing and also the impact of phishing on individuals as I’ve stated. Phishing scammers are now moving from people to companies. Although phishers have only hit a small percentage of financial institutions (150 of 9,000 in the US in 2004) but the number keeps rising every year. Phishers are attacking industries like such as e-commerce,

Link to article:
http://ieeexplore.ieee.org/stamp/stamp.jsp?arnumber=1439447&isnumber=31000