Phishing threat to global economy

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“Hi your mobile number has won in lottery prize, you won $200000  please send your bank a/c details, your address & deposit some amount to some xxx a/c to get the prize money “. Sometimes you might have received these types of sms or e-mails if you believe this & if you had send your personal details to them means you are in the phishing bone.
What is this phishing?
Phishing is a way of cheating users through sending fake emails or sms. Phishing is a criminal activity that attempts to get users or customers sensitive personal details/information in a fraudulent way.
 Normally these sms & emails are send in the name of bank or finance institution which are legally existed by creating fake websites of those institution and requesting users to login for the links that have been sent and asking them to enter their personal details like bank account number, passwords, address & finally asking you to deposit some amount to the a/c mentioned or to send the money to address mentioned in the website. Many were cheated like these & you might be one of them. There are many such groups which are involved in phishing around the world. Through phishing cheaters may use your personal details for fraud purpose, there may be chance of transactions through your bank a/c under your name without your knowledge.
Phishing and vishing (voice email, VOIP/voice over IP) through cellular telephone are resulting in large number of cyber-crimes globally. There is an estimation that in 2015 3 trillion dollars (nearly 200 lakh crore) loss globally through phishing. This may reach to 6 trillion dollars at the end of 2020. If you believe it or not everyday 294 billion of emails are forwarding & 90% of these are fake emails. Up to now nearly 30 million phishing crimes were reported and 88% of these cyber-attacks were done after clicking links by users or customers. For every second nearly 12 people were affected by online cybercrimes globally and out of them 5% are Indians. India lost nearly 6 billion in 2015 through phishing & other types of cyber-crimes. India ranked 4th place globally in the list of the countries that were affected by cyber-crimes.
Banking & Finance were the major sectors affected by phishing, nearly 40% of cyber-crimes are done in these sector. In 2014 cyber-attacks on banking and finance increased from 11 to 17%.            In finance insurance is one of the major field attacked by cyber-crimes. Though banks & insurance companies are creating awareness regarding these cyber-crimes (phishing, vishing, fake sms & emails) and implementing various protective measures to safeguard users and customers. However if you do not follow those safety measures government and regulation authorities cannot succeed in avoiding cyber-attacks.
You should think twice before replying to emails or sms that asks you to send your sensitive personal details like bank a/c number, password, address etc. everyone must go to the respective branch or office to enquire the truthfulness of these messages and should get further more details from the officers. Be cautious about these words like ‘verify’, ’Account process’, ‘update’ in the messages received which were sent in the name of bank or finance institution.

Conclusion: Phishing & and other types of cyber-crimes are becoming major global economic threats faced by the world. Everyone should support each other and to reduce these phishing or any other cyber-crimes as they can’t be eliminated completely.

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