Identity theft findings clash

Johannesburg, 04 Sept 2009

The number of Internet users hit by malware designed for identity theft worldwide has increased 600% so far this year, compared to last year, according to research by Panda Security.

However, Kaspersky Labs' research contradicts this, saying phishing has experienced an overall decline. Kaspersky notes the primary target of phishers is PayPal, with eBay ranking in second place among the most popular targets.

Jeremy Matthews, head of Panda's sub-Saharan operations, concurs the two online shopping portals, where users often send out their payment details, have increasingly been targeted. He adds that cyber criminals are even targeting NGO portals to steal charitable donations.

“There's been major growth in the selling of personal information on the black market - such as credit card numbers and Paypal or eBay accounts. We've also seen an increase of the distribution and infection of this identity-theft malware through social networks.”

According to Panda Security, in the past, malware samples mainly targeted users' online banking information by getting them to enter their username and password on a spoof bank Web site. However, the security vendor notes that potential victims are taken to any platform or online site in which their bank details may be stored or where they might have to enter them.

Panda Security states that once the criminals have obtained credit card or bank details, the cyber crooks can either sell the details on black market for about three euros each, or use them to make purchases. Panda estimates that around 3% of all Internet users have been victims of identity theft.

Growing awareness

Kaspersky is more optimistic than Panda on identity theft, saying in its latest research report that major banks have been active in providing users with information about the dangers of phishing.

“As a result, users of such systems have become more cautious, and the phishing attacks targeting them have become less effective. Meanwhile, phishing attacks which target less commonly-used services have not been particularly lucrative,” says Kaspersky.

The security giant adds that phishing e-mails accounted for 0.6% of mail traffic this year. The number of phishing e-mails has fallen from month to month (with May being the exception).

During the first quarter of this year, phishing e-mails made up 0.78% of mail traffic, dropping to 0.49% in the second quarter. Kaspersky says anti-phishing systems now offer users better protection against this type of fraud and cyber criminals are finding phishing a less profitable tactic.