ABSTRACT
In less than five minutes, Jane Smith will give criminals throughout the world the ability to gain complete control of her identity and savings. Unfortunately, as she logs on to check her e-mail, she has no idea that this is about to happen. Phishing is an Internet scam in which criminals design e-mails and websites that appear to originate from a legitimate business, government agency, or financial institution and then use this false identity to deceive Internet users into disclosing personal financial information. Companies, not individuals, end up bearing most of the direct financial loss from phishing attacks. Criminals choose phishing over traditional identity theft because the speed and anonymity of the Internet make it very unlikely that the perpetrators will be caught. Phishing is a crime that can only be solved by a comprehensive effort on all fronts. The task requires cooperation in the three following areas: law enforcement, legislation, and the private sector.
