An article relating to this blog post on Finextra:
French president Sarkozy falls victim to phishing fraud
A successful phishing sting on French president Nicolas Sarkozy has prompted a government condemnation of online security on the Internet.
With the growth of a new finance method or channel timeless fraud methods will take on new forms, and people will continue to incorrectly declare that the problem is limited to the new channel. Phishing is simply an old problem that takes on new form for
the Internet. Phishing is not fundamentally different than fraudsters standing outside a Tokyo bank and pretending to be a trusted individual to pensionors cashing checks at ATMs, nor is it different than someone calling a US resident on the telphone and claiming
to be from the US tax authorities in an effort to secure personal information that is subsequently be used to fraudulently withdraw frunds from a bank branch. My point is a fundamental and relevant one, because we must educate the public (from heads of state
to the masses) about this essential and consistent fraud precept: through any channel, people will constantly pretend to be someone they are not in an effort to steal. My fear is that industry or government will *primarily* focus their fraud mitigation efforts
on trying to eradicate the bad guys, at the expense of broader efforts in areas such as evolving cross-channel public education, improved consumer and provider authentication, and superior methods for dection of fraudulent activity by both provider and identity-holder.
Sarkozy's fraud case shows that we need to take action, but at all costs let's evolve beyond the simplistic reaction that has characterized past efforts to fighting online fraud.