How successful are the criminals who use phishing scams?

How successful are the criminals who use phishing scams?

Jemma Smith (Head of PR - APACS) gives expert video advice on: Is it safe to use my card to purchase over the internet?; What is being done to stop phishing?; What do I do if I think I have disclosed my personal security details on a phishing site? and more...

We had loses in 2006 of around £33 million due to phishing scam, which is obviously a big sum. However, if you stack it up against the credit card fraud loses we see in the U.K., it's a relatively small issue. One of the reasons for this has to be that phishing is actually quite a difficult fraud for the fraudster to get away with, in that they can only transfer the money into a U.K. account, and then they have to get the recipient of that U.K. account to wire the money overseas. It does have a clear audit travel. Clearly, the figures for phishing are going up, but thankfully, not hand in hand with the large number of people who are happily banking online.