Monday, 25 February 2008

FDIC Technology Incident Report shows phishing growth

Source: The Washington Post

US banks are required to file Suspicious Activity Reports (SAR) with the Federal Deposit Insurance Corporation (FDIC) for fraudulent activity of or exceeding $5,000 per incident.
"While the number of reported computer intrusion-related SARs (536) paled in comparison to the leading SARs categories - mortgage loan fraud (12,554) and check fraud (17,558) - the FDIC said financial crime aided by computer intrusions is growing at a rapid pace. Further, it noted that the mean (average) loss per SAR from computer intrusions was roughly $29,630 -- almost triple the estimated loss per SAR during the same time period in 2006 ($10,536)."

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