Anti-phishing tool pays off at Nationwide


Anti-phishing tool pays off at Nationwide

Antony Savvas

Software deployed by Nationwide to automatically identify and shut down phishing scams has paid for itself in three months by reducing online fraud, the building society said last week.

The roll-out followed the creation of the Strategic Fraud Initiative group at Nationwide to consider options for combating phishing attacks, which seek to obtain customer account and log-in information using spoof e-mails and websites.
The MarkMonitor software, which took 10 days to implement, has shut down hundreds of phishing scams during its first three months of operation. Prior to deploying MarkMonitor, Nationwide staff  manually tracked phishing scams carried out against the company.

“It became extremely difficult to shut down phishing sites quickly enough and cope with the number of incoming e-mails from customers reporting phishing attacks or suspicious  websites,” said Peter Corrie, head of Nationwide’s Strategic Fraud Initiative.

“With online fraud increasing exponentially each year, it is paramount for companies like ours to tackle the problem head-on in order to minimise revenue losses and protect our members.”

FSA fines Nationwide over laptop theft >>

The changing security threat of e-mail attacks >>

Bank sites go green to beat the phishers >>

David Lacey’s security blog >>
The latest ideas, best practices, and business issues associated with managing security

Stuart King’s risk management blog >>
Dealing with the operational challenges of information security and risk management

Comment on this article:

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy