India loses Rs 328 crore to phishing: RSA

Indian companies lost $52.9 million (Rs 328 crore) as a result of phishing attacks in the third quarter, according to a report by security software maker RSA's anti-fraud command centre. Phishing refers to cyber criminals posing as legitimate entities to extract usernames and passwords for bank accounts, which can then be used to defraud the user. The tactic often used is emails that appear to come from sources like banks or brokerages or sometimes even colleagues and friends, whose accounts have been compromised. Indian brands were the third-most heavily targeted in the world, drawing 7% of the attack volume in the third-quarter. In the first half of the year, Indian brands drew 5% of the attack volume, according to RSA.