Economic analysis says phishing in the USA isn't as lucrative as once thought

Jan 07, 2009 | 03:17 PM
By Kelly Jackson Higgins
DarkReading

Most experts agree that phishing has become more automated, sophisticated, and widespread. But that doesn't mean all phishers make big bucks, according to a recently published report.

Cormac Herley and Dinei Florencio, both from Microsoft Research, conducted an independent economic analysis (PDF) that they say refutes conventional wisdom that phishing is lucrative. Instead, the researchers -- who note their work is their own and doesn't speak for Microsoft -- used economic models to conclude that phishing is a low-paid, low-skills enterprise where the average phisher makes hundreds, not thousands, of dollars a year.   [Comments...]