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AOL Tries To Hook Phishing Sites
Chris Crum
Staff Writer
2005-04-22
 Insider Reports RSS Feed
America Online is cracking down on phishing sites and launching a 24-hour-a-day, 7-day-a-week monitoring process.
 | | AOL Targets Phishing Scams |  |
AOL has enlisted the help of Cyota, a company that provides security for financial institutions.
A Globes article says:
"Cyota has developed an array of anti-fraud solutions, including its FraudAction anti-phishing solution, which is provided to banks and financial institutions worldwide. FraudAction detects phishing attacks, shuts down phishing sites, performs forensic work and works with banks and law enforcement agencies to prevent future attacks. Cyota's array of anti-fraud solutions are currently in use by eight of the top 12 banks in the US and the UK, and thousands of other financial institutions around the world."
AOL said in a press release that it is also working internally and with other partners to identify and block phishing sites.
According to a PCWorld article,
AOL is not alone in its attempt to crack down on such scams. In February, Microsoft, EBay, and Visa International launched a program to share information about phishing attacks called the Phish Report Network. And the APWG has over 1200 members, including many U.S. banks, ISPs, and technology companies, working together to eliminate online theft.
AOL's anti-phishing campaign is part of a broader initiative by the ISP to increase security for its users by blocking spam, working with law enforcement, and other measures. The Dulles, Virginia, company says it plans to roll out new and stronger initiatives to fight phishing and identity thieves in coming months.
America Online and Cyota are working to evaluate potential phishing sites based on member feedback through its "Report Spam" button and through other sources. When a possible phishing site is identified, AOL limits access to the site though the AOL client and informs any member who attempts to visit it that it is suspected of being a dangerous site. In addition to sites that fraudulently attempt to spoof pages of the AOL service, America Online is working to block access to fraudulent web sites imitating other legitimate companies like banks, credit card issuers, online auctions, and online payment facilitators.
"Phishing and identity theft are the fastest-growing security threats online, and we will work around the clock to protect our members with the tools we have available," said Tatiana Platt, AOL Senior Vice President and Chief Trust Officer. "By limiting our members' access to suspected phishing sites, we're trying to cut the lines before a phisher can reel them in and steal sensitive financial and personal information. And we're just getting started. Over coming months, we'll continue to roll out new and stronger technological and legal defenses against phishers, scammers and identity thieves."
"Our customers - some of the world's largest banks - look to Cyota to fight fraud and partner with industry leaders to help protect their assets, brand and accountholder's interests," said Amir Orad, Cyota Executive Vice President of Marketing. "As the world's largest Internet service provider, America Online is already a driving force in the fight against online crimes. Together, Cyota and America Online will strive to mitigate the damages of phishing and e-mail fraud against banks, their accountholders and AOL members."
AOL has recently taken other steps to help protect its members against phishing, including spam blocking, cooperation with law enforcement, member education, and tools like AOL Money Alerts, AOL Passcode, and AOL Official Mail.
About the Author:
Chris Crum is a staff writer for SecurityProNews and WebProNews.
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