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I.D. Fraud is Low-Tech Problem but Phishing Growing in Europe

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While the article which appeared in the October 28, 2006 edition of Computer World acknowledges the admission by E-Trade and Ameritrade that they had lost upwards of $22 million to online fraud, the authors clearly make the case that low tech methods, like dumpster diving, are responsible for far more I.D. Fraud.

Another interesting conclusion put forth by the authors is that U.S. Citizens are not the most frequent targets of online fraud. According to the article, statistics from anti-spam vendor McAfee that more than half of all recent email phishing attacks involved e-mails from a sender masquerading as VolksBank, a German bank, with another quarter targeting customers of U.K. bank Barclays PLC.

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