Social networking is getting hotter, and with it riskier. Social networking sites remain one of the top phishing targets. Social networking phishing attacks represented less than 1 per cent of attacks, but yield a big chunk of phishing impressions.
A typical social network phishing is likely to trick many more users than a typical financial phish. There are a number of explanations for this discrepancy. While financial institutions targeted by phishers can number in the hundreds, just a handful of popular sites account for the bulk of the social network usage on the Internet, so phishers can effectively target many more people per site.
In addition, phishers often use the messaging features of the sites themselves to distribute their attacks, typically by gaining control of a user's account and using it to send phishing messages to the victim's friends. These attacks are more effective than email-based attacks as they exploit the considerable level of trust that users place in their friends.