To ask the Secretary of State for Business, Enterprise and Regulatory Reform
(1) what estimate he has made of the extent of personal financial losses by consumers as a result of responses to fraudulent phishing emails which purport to originate from individual banks and financial service providers in each of the last five years;
(2) what estimate he has made of the number of fraudulent and spam phishing emails, which purported to originate from individual banks and financial service providers, sent to email addresses in the .uk domain in the last 12 months.
I have been asked to reply.
APACS estimate that total losses for online banking fraud, which would include phishing along with other scams such as Trojans, amounted to £33.5 million in 2006. In many cases however these losses would be born by the financial institution rather than the consumer. In practice banks normally reimburse cardholders who have been genuine victims of online card fraud and have not been negligent with their card details, or acted fraudulently themselves.