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Chennai tops Bangalore with Maximum Financial Loss Due to Phishing

Bangalore Cyber Crime Cell, India, released its phishing reports in the first week of September 2008 that says the Cell had reported 47 phishing cases in the city during 2007. But in 2008, 33 cases have already been reported, with over 130 accounts affected, as reported by BCS News.

Nevertheless, it appears to security researchers and analysts that scammers are not humored with this development, as Chennai has reportedly lost more than Rs.1 Crore to phishers during 2008 alone. This has been due an increased number of users switching to online banking.

Moreover, although banks are repeatedly warning against phishing scams, the irony is that educated customers continue to become victims of online robbers, say security officials.

Meanwhile, according to some police officials, the department has recognized nearly 21 types of unique phishing e-mails, with a majority are linking to spoofed Web pages pertaining to mainstream banks. A few of phishing messages exploit the users inclination to become convinced with offers of gifts or free money.

While officials of the cyber crime cell continue to probe into various phishing incidences, it appears to security experts that scammers have already established an association in India, with its roots firmly fixed in the country's commercial capital, Mumbai.

M. Sudhakar, Assistant Commissioner, Cyber Crime Cell, states that people should understand that banks would never request for sensitive or personal information, as reported by The Times of India on September 12, 2008.

Sudhakar further says that people should not be duped with e-mails having greedy messages that attempt to entice them with promises of gifts or 'easy to get' bank loans as they are from phishers who always look for phishing recipients off their money.

However, Zaki Qureshey from E2Labs blames the tendency on inappropriate security maintained in the cyber cafes of the city, as reported by BCS on September 9, 2008.

Qureshey also said that Hyderabad was the city with most number of cyber cafes, the best bandwidth service and the largest number of users who operate from home compared to any other state in South India; but unfortunately, it has the lowest level of awareness.


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