Press Release
Release Date:
October 28, 2004
Cyveillance Sponsors Industry Efforts to Fight Phishing and Online Fraud
Company Collaborates with Leading Financial Institutions,
Internet Service Providers and Law Enforcement Agencies
ARLINGTON, VA, October 28, 2004 – Cyveillance®, the leading provider of online risk monitoring and management solutions, today announced that it is an active sponsor of both the Anti-Phishing Working Group (APWG) and the Counter-Phishing Initiative of the Financial Services Technology Consortium (FSTC). An active participant in many antifraud associations, Cyveillance’s sponsorship agreements expand its commitment to fighting an ever-growing list of online risks including fraud, brand abuse, customer diversion, phishing and corporate identity theft.
Through the use of spam e-mail and spoofed company Web sites, phishing perpetrators acquire the personal information of unsuspecting consumers, including social security, bank account, PIN and credit card numbers. The stolen information is often sold to other predators to fund illicit activities or used to make fraudulent purchases. The increasing frequency of online fraud and phishing attacks poses a threat to consumer adoption of online self-service models like those commonly employed by financial services companies, ISPs, retailers and other businesses. It is vital to maintain consumer confidence in today’s online business models that have dramatically decreased transactional costs for many leading companies.
“We are pleased to lend our technology, expertise and years of experience to these well-placed efforts,” said Todd Bransford, vice president of marketing for Cyveillance. “Online fraud has evolved significantly in the eight years we have been monitoring the Internet, and we continue to enhance our solutions in order to respond to the needs of our clients. It’s a privilege to work alongside leading financial institutions, Internet providers and government agencies to tackle the phishing issue.”
The FSTC has recently launched a multiphase initiative throughout the financial services industry to address the problem of phishing. In collaboration with other industry groups, the FSTC will focus on defining technical and operating requirements of financial institutions for counter-phishing measures and clarifying the infrastructure fit, requirements and impact of technologies when deployed in concert with customer education, enforcement and other industry initiatives.
The APWG is an industry association focused on eliminating the identity theft and fraud that result from the growing problem of phishing and e-mail spoofing, and has partnered with the FSTC in this effort. "We are delighted with the response from both financial institutions and the various technology vendors who have products and services designed to combat phishing activities," said Zachary Tumin, executive director of FSTC.
About Cyveillance, Inc.
Cyveillance, the leading provider of online risk monitoring and management services, is focused on helping organizations monitor the Internet for issues such as identity theft, fraud, security risks, unauthorized product distribution and many forms of brand abuse. The company uses its proprietary technology to deliver high-impact, 100% relevant, actionable intelligence, drawn from—and delivered securely over—the Internet on a subscription basis. Cyveillance services help customers increase revenues, reduce costs, improve operational efficiencies and mitigate mission-critical risk. Cyveillance serves Global 2000 companies and counts over half of the Fortune 50 as clients.