The Survivor Journal Index

15.02.2005 / Big companies launch:

Global Service Tackles Phishing

Microsoft, eBay, PayPal and Visa have collaborated on the first worldwide anti-phishing aggregation service that will enable companies to report and block phishing web sites while better protecting global online consumers.

Phishing is an act of fraud that involves an attempt by scam artists to steal the identifies of Internet users by sending out emails or links to Web pages that mimic popular Web sites. The Phish Report Network will allow any company being victimized by phishing attacks to immediately and securely report fraudulent Web sites to a central database operated by WholeSecurity, a provider of client side security. Other companies subscribing to the Phish Report Network can then access the database or receive real-time notifications of known phishing sites.

Ryan Hamlin, general manager of the Safety Technology and Strategy Group at Microsoft, said phishing is the fastest growing segment of spam being sent worldwide today, victimizing both legitimate online companies whose brands are being hijacked and consumers who are unwittingly providing their personal information to criminals. The Anti-Phishing Working Group recently reported a 24 percent month-to-month growth rate in phishing attacks from August to December 2004. Many of the member companies, including PayPal and Visa, have been victims of phishing attacks. Brad Nightengale, department head of emerging products at Visa, said the company is focused not just on shutting down phishing sites, but preventing phishing emails from ever reaching consumers worldwide.

Source: EDITTECH INTERNATIONAL

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