Universities study why phishing works

Researchers at Harvard University and UC Berkeley have published a document explaining why phishing works on general users.

...The report also offers some alarming statistics about phishing. Research indicates that about two million Americans gave their personal information to phishing sites in 2003, resulting in direct losses of $1.2 billion for U.S. banks and card issuers. Phishing has grown substantially since 2003. Additionally, the authors note that good (convincing) phishing sites were able to fool 90% of participants and that the test group made mistakes on an average of 40% of the time. Neither education, age, sex, previous experience, nor hours of computer use per day showed any statistically significant correlation with one's vulnerability to phishing. Universities study why phishing works

Linked by shanmuga Saturday, 1st April 2006 10:20PM