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Cybercrime has become such a problem to companies that it is being made the subject of a credit union's conference in Las Vegas this week, it has been reported.
The National Association of Federal Credit Union's Technology and Security convention is to discuss how to prevent criminals from "lurking in cyberspace" and securing consumers' details, Las Vegas Now has noted.
It stated that the problem of phishing and identity theft costs US financial institutions around $3 billion (£1.5 billion) a year.
Furthermore, the conference was informed, in certain online chat rooms it is possible to see genuine, stolen credit card information being sold to other criminal networks.
Internet Business Law Services, an online resource containing regulations and laws which relate to the web, warned last year that phishing is one of the fastest-evolving online scams.
The site claimed it can cause both short-term loss and long-term economic damage, with clients of major financial institutions sometimes being targeted.
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