Wednesday, June 29, 2005

There's 4.6 of them born every minute

Gartner notes that 2.4 million consumers have reported losing money directly due to phishing attacks in the year to May 2005; of those consumers, half of them lost a combined $929 million in the 12 months preceding the survey.

(2.4 million suckers divided by 525,600 minutes/year gives 4.566. The loss per user is impressive, at almost $1,000, though I don't know why Gartner only gives numbers for half of them... I'd guess that gives a more impressive number.)

Phishing solicitations increased 28% from 57 million during the 12-month period ended in April 2004 to 73 million for the year ended May 2005. This is a smaller number than I would've guessed, given the prominence this topic gets. I suspect that the number of people losing money has increased more rapidly, though the press stories on the Gartner report don't mention this.

It's having an impact: according to Gartner, 33% of online shoppers are buying fewer items due to concerns about online fraud, and 75% are more cautious about where they shop online. The scary implication is the 25% are not more cautious about where they shop online...

Sources: Internet Retailer, ZDNet's IT Facts

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