Encouraging news from India, but it's not even the tip of the iceburg TBH: BBC News - 'Spam capital' India arrests six in phishing probe

I think this part sums it up nicely:

The crackdown is being seen as a positive sign in India where the officials have been accused of not keeping up with cybercriminals.
Indian companies are now taking cyber-threats seriously as a number of recent surveys have pointed out that there appeared to be a considerable lack of preparedness to counter such threats.
Indian corporations lost an estimated $27.8 million (£17.8m) in the first half of 2011 due to phishing attacks, said RSA, the security division of data specialist EMC.
It is not just corporations but individuals too who are targeted as Indian internet users spend more and more time on Facebook, Google and Yahoo.
So increasingly, the attacks happen on social networks.
It would be nice if there were stringent forum spam laws introduced as well