A man was arrested Monday for allegedly setting up a phony Internet portal site to lure victims into giving personal data, an official said. Police said it was Japans first arrest linked to a form of identity theft called phishing.

It seems strange to me that people continue to try and extract information and ultimately money via internet scams…The chances of getting caught are very high yet many believe they can get away with it.
Presumably a lot of it goes on because of the fact that there are still hundreds and thousands of people that still get taken in by these scams, making it a profitable excersize.

Kazuma Yabuno, a 42-year-old office worker in the western city of Osaka, was taken into custody and accused of violating copyright and unauthorized access laws, a Tokyo Metropolitan Police official said on condition of anonymity.
Yabuno allegedly defrauded users with his phony Yafoo! Japan site, which closely resembled and has the same pronunciation in Japanese as that of popular Net portal and auction site operator Yahoo Japan, the official said.

This Yahoo News Report reminds you to be wary learn from the tactics they are using and ensure you stay one step ahead.