Posted by: Bruce Einhorn on February 22, 2007
As readers of this blog can attest, lots of Indians are keenly competitive with the Chinese. But there’s one industry where Indians have been happy to lag behind China – Internet fraud. For years, China has been a top source of spam and phishing sites, afflicting not just Chinese but Net users worldwide. (See this story, for instance, that I did the other day for BW Online on the Chinese spam problem.) In comparison, India has been blissfully free of Internet fraudsters. No longer, though. According to this story in the Financial Express, fraud artists are waking up to India’s potential. Three percent of the world’s phishing sites now come from India. The numbers are still small, but the trend isn’t good, reports the Financial Express: “Consider this: just 12 months ago, India’s share of hosting such dubious sites was next to nothing.” The bad news is that India has gotten to 3% at a time when broadband penetration rates remain very low. One reason that China is so vulnerable to Internet fraud is the popularity of high-speed – but loosely protected - Internet access. As broadband starts to catch on in India, this might be one industry where Indians close the gap with the Chinese fast.