"The "Verified by Visa" system has drawn some criticism, since it is
hard for users to differentiate between the legitimate Verified by
Visa pop-up window or inline frame, and a fraudulent phishing site."
"as of 2008, most web browsers do not provide a simple way to check
the security certificate for the contents of an iframe"
If you read the Criticism section in the article it details all the potential security flaws.
Otherwise the only difference is the fact that an IFrame is an inline frame and a Frame is part of a Frameset. Which means more layout problems than anything else!
The difference is an iframe is able to "float" within content in a page, that is you can create an html page and position an iframe within it. This allows you to have a page and place another document directly in it. A frameset allows you to split the screen into different pages (horizontally and vertically) and display different documents in each part.
IFrame is just an "internal frame". The reason why it can be considered less secure (than not using any kind of frame at all) is because you can include content that does not originate from your domain.
All this means is that you should trust whatever you include in an iFrame or a regular frame.
Frames and IFrames are equally secure (and insecure if you include content from an untrusted source).
iframes are used a lot to include complete pages. When those pages are hosted on another domain you get problems with cross side scripting and stuff. There are ways to fix this.
Frames were used to divide your page into multiple parts (for example, a navigation menu on the left). Using them is no longer recommended.
Inline frame is just one "box" and you can place it anywhere on your site.
Frames are a bunch of 'boxes' put together to make one site with many pages.
While the security is the same, it may be easier for fraudulent applications to dupe users using an iframe since they have more flexibility regarding where the frame is placed.
Basically the difference between <frame> tag and <iframe> tag is :
When we use <frame> tag then the content of a web page constitutes of frames which is created by using <frame> and <frameset> tags only (and <body> tag is not used) as :
And when we use <iframe> then the content of web page don't contain frames and content of web page is created by using <body> tag (and ABC2 and <frameset> tags are not used) as:
So <iframe> just brings some other source's document to a web page. The <iframe> are used to specify inline frames or floating frames. The World Wide Web Consortium (W3C) included the <iframe> feature in HTML 4.01.
<frameset> tags were used to create frames with the tag <frame> whereas <iframe> fulfills functions of both <frame> and <frameset> tags. Unlike <frame> tags, <iframe> tags can also be placed inside the <body> tags.
Placement of <iframe> is easy, a coder can easily put the <iframe> tag among the other webpage tags, and also add several <iframe> tags if he/she wants. On the other hand, placing <frame> tags in <frameset> is bit complicated.
Note :<frame> tag and <frameset> tag are deprecated in HTML5
So now as use of <frame> and <frameset> tag is deprecated so web developers use <body> tag for creating content of a webpage and for embedding some other source's document in the web page <iframe> tags are used. But even <frame> tags were also used to embed other source's document in a webpage and even <iframe> tags are also used to create frames.