Bank turmoil fuels phishing boom

[Camy]

Hi-tech fraudsters are taking advantage of the global financial turmoil, say governments and security experts.

The US Federal Trade Commission (FTC) issued a warning saying phishing gangs were using the turmoil to extract valuable information from consumers.

A UK parliamentary group said it expected a move away from ID theft towards attacks on account holders.

The news comes as a UK banking group reveals that phishing attacks were up more than 180% in a year.

Fresh targets

The FTC said the current rapid changes in the banking world, where many institutions suddenly had new owners, could only help fraudsters keen to steal login and other personal details.

"Scammers are taking advantage of upheavals in the financial marketplace to confuse consumers into parting with valuable personal information," it warned.

http://news.bbc.co.uk/1/hi/technology/7663055.stm