Phishing and Identity theft

Usually the target for the phishing scammers are the banks, such as Lloyds TSB, HSBC, etc. if you receive a email from a bank, which asks you to click on a given link and on clicking the link you are taken to a website, which is not the actual website. There you are asked to provide more information, such as your name, password, and even account number. If you get such an email, you should read it with utmost suspicion, since it is a known fact that banks and other similar financial instructions will never ask for your personal details.

What do they do after they get the information by phishing?

Professional phishing scammers gather personal information and sell it to the criminals who actually operate on the information.

For example, After gathering the sensitive information of a person with a good balance in his bank account, the phisher earns around $400. The marketplaces of this information exchange hands in the unmonitored the chat rooms of the internet relay chat (IRC).

Those who are coders use ready-to-use tools like Trojans, mailers and other custom bots, to get personal information, and re-sell these lists to the criminals making a mere $100 a month.