Can Risk Management Prevent Phishing?

When CyberMedia News reported on the recent phishing attack on ICICI customers one thing that stood out was that it was conducted in a highly sophisticated and well-planned manner. http://www.ciol.com/content/news/2006/106021019.asp

The perpetrators had completely replicated ICICI Bank's net banking website hoping to get account holders to reveal their access information. It was an alert customer that brought the fraud to the bank