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March 28, 2005

Phishing evolves to second wave

Phishing is entering its second wave, according to one industry group, with attackers increasingly using malicious code to steal victim's online identities.

By CBR Staff Writer

The Anti Phishing Working Group (APWG) reported a disturbing uptick in use of malware by professional gangs to filter consumers’ log-ins and passwords from their keystrokes or to direct them to convincing counterfeit sites even when they have followed advice such as keying a bank’s URL into the browser’s address bar a practice called Pharming.

This latest method of attack represents a change from the conventional practice of using a relatively simple e-mail to convince a victim to perform certain tasks. This latest approach has been proliferating in Brazil and Australia, however APWG said it was just a matter of time before attacks moved into the Northern Hemisphere.

APWG chairman David Jevans said in a statement yesterday that the shift could represent phishing’s second wave, with professional gangs using sophisticated technology to evade recent defenses like e-mail filters and consumer education.

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