Online banking fraud can happen through phishing — where hackers forge emails or spoof websites in the hope of tricking users into divulging sensitive information. Other common banking fraud involves hackers sending infected attachments or encouraging users to visit malicious websites, to load information-stealing Trojans such as Zeusand SpyEye.

Increased computer security awareness from customers, plus banks’ use of fraud detection software, have led to this fall, said the UK Cards Association (UKCA). Many banks use behavioural anomaly software that charts suspicious activity on a card.

While losses have fallen, the number of phishing websites targeting UK users has sharply increased. From January to June 2007, UKCA logged 7,224 such websites. Phishing websites frequently get taken down, yet in the same period in 2011 the number had increased to 37,198.

The Bank of Canada decided to hold off on rate hikes today after increasing rates by 25 basis points three times in a row. Why the sudden halt? Well, things aren’t going along as well as Carney had hoped. The US recovery is really a misnomer since there hasn’t been a meaningful recovery really. In addition, the recovery will be hindered by consumers and governments attempting to pay down debt accumulated during the recession.