Online Retailers Get 'CounterPhishing Assurance'

Online retailers offered 'CounterPhishing Assurance' from leading on-demand eSecurity firm, Perimeter eSecurity

April 4, 2007

2 Min Read
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MILFORD, Conn. -- Online retailers are increasingly the targets of Phishing attacks, which number more than "eleven brands phished per day"according to the prestigious AntiPhishing Working Group, noting 340 "applications of password-stealing code" for the month of December alone**.Increasingly, these attacks target e-retail customers, since banks have become gradually sensitized to the risk. "'Go retail' appears to be the hackers' motto of late," says Perimeter eSecurity's Chief Security Officer Kevin Prince, "as the thieves look elsewhere to steal customers' credit card, bank account, and retail account numbers and passwords via faux websites."

A phishing attack starts with a fraudulent email directed at a retail customer. The email appears to come from the customer's on-line vendor and contains a URL or web site link that, when clicked on, takes the Account User to a Phish Web Site and directs them to enter their account number, username, password or PIN, etc. This information is collected in a Phish Database that enables criminals to use the customer's identity to steal funds, commit fraud, or otherwise attack the institution.

To help retailers combat this costly, reputation-damaging assault, Perimeter eSecurity, the only provider of complete eSecurity on demand, today launched "CounterPhishing Assurance," a low-cost service that stops attacks in 17 different languages, in an average of three hours, far faster than the six-day industry average. This bold 24x7x365 service requires no on-premise equipment, and vigilantly monitors up to ten different domains on a continuous basis. Retailers who utilize this aggressive monitoring and "takedown" service, pay an additional charge for "takedown" of the phishing site, generally less than $2,000 per incident as opposed to the millions in damages including reputational damages that a phishing incident alone can cost them.

"Fifty nine million phishing Emails are sent out worldwide each day," says Kevin Prince, CSO of Perimeter eSecurity, "and in December alone 27,387 reports of phishing were recorded. Attacks are becoming increasingly personal because hackers will go to any length to make you think that the email or website that they are presenting to you is real. Fraudulent phishing and pharming sites need to be taken down immediately to thwart further attacks and damage.

Perimeter eSecurity

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