Although we all see lots of attempts at phishing and it gets lots of
press coverage, it is very small compared to regular credit card and
bank fraud which happens all the time. According to a study which I
recently read (I wish I could remember where) phishing accounts for
less than 1-2% of all banking and credit card fraud in the US.
Citation on the $1M/day, please? (I'm sure the *aggregate* take is well
over that, but what *single entity* is seeing that magnitude losses?)