This was a pretty interesting survey, even though the article was somewhat directed towards that lack of credit card fraud and identity theft in India.  The thing I found interesting is that in this one conducted survey, up to 83% of people in the United States were familiar with phishing scams.  In addition, 91% of the people were also willing to use more advanced security aside from just usernames and passwords.  From this survey, it makes it sound like we are quite knowledgeable about phishing scams.  The question is, why are so many people still falling victim to them?

While cybercrimes and credit card frauds are growing, so is the concern among the customers who want their banks to use advanced methods to protect their hard earned money. In India, however, the concern is comparatively lower.

According to the annual Financial Institution Consumer Online Fraud Survey, conducted by RSA, The Security Division of EMC, trust in online channels has eroded, as 82 per cent of account-holders are less likely to respond to an e-mail from their bank due to scams including ‘phishing’. More than half of the customers said that they would be less likely to sign-up for or use online banking facilities.

The survey also revealed that 82 per cent of the customers now want their banks to monitor online and telephone banking sessions to spot irregular activities. About 91 per cent of those surveyed were willing to use any advanced authentication method, apart from the standard ‘username and password’, to ensure an enhanced security. “If I am sure that my money will be safer, I won’t mind making some extra effort,” said an internet banking subscriber. The online survey, conducted in eight countries including India, asked the Internet banking and online transaction practitioners for their opinions on online fraud. It also revealed that while 69 per cent respondents in UK, 65 per cent in Australia claimed to be familiar with the term ‘phishing’ and other hacking methods, the figure was as high as 83 per cent in the US. In India the figure was much lower than 50 per cent. “India is still low on the list of hackers and online swindlers as the volume of money involved is also low. India, however should acquire the technology in advance as online banking will increase,” said Mr Sri Kiran Raghavan, of RSA.[more]

Tags: Malware, Computer Protection