Psst...You're Being Phished....Pshaw!
Phishing is the malicious attempt to use phony e-mails to steal one's identity information--Social Security numbers, credit card numbers, or bank account information. The e-mails often pose as audit requests from banks, claim you have won a high-priced sweepstakes, or offer you special retail promos.
These phishing expeditions are getting out-of-hand, more costly, and more sophisticated, as shown by this data:
- $137 million lost from phishing attacks
- 57 million U.S. adults received at least one phishing e-mail
- $257 was per-victim loss
- 80% of the money was recovered
Question: Based on this data, what would you expect the numbers for the year 2008 to be ...for each of the four categories? Does a linear or exponential model look more appropriate...or neither? Explain.
- $2.8 billion lost from phishing attacks
- 109 million U.S. adults received at least one phishing e-mail
- $1224 was per-victim loss
- 54% of the money was recovered
Source: AARP, February 2007, p. 18