Melbourne IT DBS Fraud Prevention Service to Prevent Phishing Attacks from Reaching Consumer Inboxes
Comprehensive Email Authentication Proactively Obstructs Phishing Emails;
Melbourne IT Expects Industry-Best-Practice Site Shut Down Times to Improve Even Further
SANTA CLARA, Calif.--(BUSINESS WIRE)-- Melbourne IT Digital Brand Services (DBS) today bolstered its comprehensive phishing protection service to not only accelerate shut down times of fraudulent sites, but now prevent phishing emails from reaching potential victims in the first place. The enhanced Fraud Prevention Service, using advanced email authentication, has the potential to save banks, payment providers and online retailers millions of dollars by dramatically reducing financial losses in the first critical 12 hours of a phishing attack.
"According to RSA, phishing scams cost the global economy an estimated $687 million in the first six months of this year and the volume of attacks has continued to increase. While quick detection and shut down of phishing sites is vital, the most damage is done during the first 12 hours, making it crucial for brands to stop phishing emails from reaching as many inboxes as possible in order to protect consumers and reduce losses," said Melbourne IT DBS Director of Global Intelligence Operations, Dan Whetzel.
"Melbourne IT has long been faster than the industry average at shutting down phishing sites. But with the email authentication enhancements we are announcing today, big brands that are regularly targeted can now reduce their exposure to phishing fraud even further," he said.
Any organization that conducts business online is a target for phishing attacks, particularly well-known organizations in financial services, retail, travel, online gaming, and online gambling industries, as well as government departments. Traditional anti-phishing services have focused on a reactive versus a proactive approach, in which a phishing site is discovered and shut down as quickly as possible. However, losses occur before the site is shut down.
While anti-spam technologies capture some phishing attempts, Melbourne IT Digital Brand Services' enhanced Fraud Prevention Service introduces advanced email authentication, covering billions of email boxes at the world's leading email providers to prevent phishing emails claiming to be from Melbourne IT client brands from reaching those inboxes. At the same time, the Service provides faster alerts to further improve phishing site detection shut down times.
In the top 95% of domains, Melbourne IT is already hours faster than the industry averagein shutting down fraudulent websites, as measured by the APWG relative to its members' data*.
"We expect our rapid shut down times to improve even further for customers using our new Fraud Prevention Service with email authentication. Our global presence and extensive relationships with domain registrars, Internet Service Providers and law enforcement agencies enable us to act on a phishing attack quickly to ensure our clients and their customers receive the highest levels of fraud protection," added Mr. Whetzel.
Early detection and shut downtargets common online scams such as:
Phishing (and spear-phishing) emails that deceive end users and prompt them to click on a link to a site where they enter credit card / banking details, user credentials or other confidential information
Advance fee fraud scams that entice users to make a small payment now on the false promise of large future cash gains
Malware in emails, infecting users' computers with code later used in e-crime activities
For more information about Melbourne IT's Fraud Prevention Service, visit www.melbourneitdbs.com/phishing.
*Melbourne IT average shutdown time for phishing sites located in the top 95% of top-level domains is 21.36 hours compared to APWG quoted industry averages of 48.13 hours in H2 2011 and 23.17 hours in H1 2012.
About Melbourne IT Digital Brand Services
Melbourne IT DBS helps organizations manage, protect and optimize online brands to maximize the value of online assets. The Company helps clients minimize risk and make smarter decisions in managing online presence. The Company's 3,800 clients include some of the world's most recognizable brands. Headquartered in Santa Clara, CA, Melbourne IT DBS maintains 15 offices in 10 countries, and is a division of the listed Melbourne IT Group (ASX: MLB). For more, visit www.melbourneitdbs.com
KEYWORDS: United States North America California
The article Melbourne IT DBS Fraud Prevention Service to Prevent Phishing Attacks from Reaching Consumer Inboxes originally appeared on Fool.com.
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