The fake bank email business is booming

The Australian Consumer and Competition Commission reported that online losses from email phishing scams doubled in 2014 compared with the year before. The ACCC has identified email phishing as a major problem.

Phishing is sending apparently genuine branded emails that attempt to fool the receiver into clicking links to open infected files, or even sending money directly.

Rajiv Motwani from Websense said banks had got better in defending their systems but ‘humans are the weakest link in phishing.’

Source: Banking Day