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With the tremendous increase in the use of online banking, online share trading and ecommerce, there has been a corresponding growth in the incidents of phishing being used to carry out financial frauds.
Phishing involves fraudulently acquiring sensitive information (e.g. passwords, credit card details etc) by masquerading as a trusted entity.
The usual scenario is that the victim receives an email that appears to have been sent from his bank. The email urges the victim to click on the link in the email. When the victim does so, he is taken to “a secure page on the bank’s website”. The victim believes the web page to be authentic and he enters his username, password and other information. In reality, the website is a fake and the victim’s information is stolen and misused.
Phishing - a practical case study is a first of its kind case study in the world and has been released by Asian School of Cyber Laws. It explains the above scenario in detail along with two fully functional websites.