Trojans fuel ID theft boom

Identity theft is on the rise with keylogging Trojan software often forming the weapon of choice for would-be fraudsters, The Register reported.

According to a new study, the number of keylogging malware packages increased 250 percent between January 2004 and May 2006. The number of phishing attacks tracked by the Anti-Phishing Working Group multiplied 100-fold over the same period of time.

Identity theft in all its various guises is one of the fastest growing crimes. Annual losses from the crime in the US alone are estimated at $50 bln, according to figures from consumer watchdog the Federal Trade Commission.

In the UK, the Home Office estimates identity theft has cost the British economy a more modest $3.2 bln over the last three years.