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Risky Business

A blog by Martin Williams, external affairs spokesman of Graydon UK, focusing on business risks - from fraud to late payment. Martin has has spent the last 35 years in the credit information industry, and has been with Graydon UK, one of the top five commercial credit agencies in the UK, for the last 20. Apart from his PR duties, he teaches credit analysis to risk professionals and helps educate SMEs on the importance of maintaining a good credit rating. Martin is a Fellow of the Institute of Credit Management and is a sitting member of the Institute's Think Tank. He was also honoured by Credit Today, after being included on their Credit 100 list of people who have had the greatest impact in the credit industry during 2008, 2009 and 2010.

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Phishers move up the food chain

12 May 2008

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Internet fraudsters (phishers) who try to trick online users into passing over bank/creditcard/other private details over the web are moving up the food chain and attacking high net worth individuals. More sophisticated individuals surely won't get caught out by these scams, I hear you ask.

Well, last month, thousands of senior US executives were targetted with e-mails that looked like official court summonses from a court in San Diego. They were told to click on a link to download the full court summons. Anyone who followed the link unwittingly downloaded and installed key logging software that recorded their passwords and computer use and sent it to the phishers. A second piece of software enabled the gang to control the computer remotely. Hundreds were caught out.This scam led the New York Times to coin a new phrase  for phishers who target upmarket individuals- "whalers"!

The message is clear. Organisations can't rely totally on IT guys to combat Internet scams but must train all staff (even senior executives!)to be aware of the technological, commercial and legal risks and need to develop programmes to stop phishers from being successful.

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Hello, I just tried to e mail you about the article yet can't get through to you. If you please email myself whenever have a minute. Cheers.

Posted by: Hugo Frankford , 12 Aug 2010

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