Steve Neville, Director of Identity Solutions at Entrust, discusses how banks are fighting fraud while safeguarding customer information and ensuring regulatory compliance. Neville: From 2004 to 2007, 120% increase in phishing attacks in that time period, according to Gardner. Social engineering is taking a huge role now in the way these attacks are mounted. The net result is always about a loss of identity and that may be simply the loss of a user’s identity, or it could actually go down to monetary losses.”]
Source: https://www.cuinfosecurity.com/online-fraud-how-banking-institutions-fight-back-a-1014