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“Phishing” (a variation of fishing) is the term used for hackers who imitate legitimate companies and give “bait” to people to share their passwords, credit-card numbers etc. And invariably, online banking is the most popular target of these “Phishermen”.
CERT-In (Indian Computer Emergency Response Team) phishing report 2006 says that during the last 6 months, the number of reported attacks went up by 94% and 36 of those were targetting sites in the .in domain space. US financial firms were targets of 94% of the phishing attacks, while Indian brands represented only 2% of the same. F-Secure, a corporation that protects consumers and businesses against computer viruses and other threats, has come up with a valid suggestion. They recommend introducing a .safe domain name to be used by registered banks, which would allow security providers to create better software to protect the public.
“While a .safe domain name won’t prevent phishing attacks, it will help banks and security providers to give their customers the needed reassurance while banking online,” said Patrik Runald, Senior Security Specialist at F-Secure. So, here’s a word of advice for all... Don’t bite the bait, and beware of “phishermen”.
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Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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