PayID is the next target for scammers. Here's how they do it

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ANALYSIS: PayID is the next target for scammers. Here's how they do it

It is not clear who was to blame, although there are allegations of aIn this case, the data could potentially be used as part of a more complex phishing scam designed to steal further information from account holders.

Although this is clearly a very simple attack involving nothing more sophisticated than simple trial and error, it appears the PayID system did not detect the large number of lookups — an average of 14,000 per account — or the speed with which they were undertaken.

 

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