PHISHING ONE OF TOP RISKS TO GLOBAL BUSINESS IN 2011 AND BEYOND AS CREDIT CARD FRAUD STABILISES

SentryBay calls for higher vigilance by corporates in response to influential report from Identity Intelligence     

Security specialist Sentrybay has responded to a new report from Identity Intelligence by calling for much greater vigilance by corporates at risk from phishing and keylogging attacks.  The Identity Intelligence Report 20101 states that there has been a marked move away from card-not-present fraud towards ‘card-not-necessary’ fraud – proven by a significant fall in the price of stolen cards on the black market.

The Identity Intelligence Report 2010 further states that ‘phished, stolen or negligently sold personal data has become the basis for creating false identities that can be used to set up bank accounts, credit cards and loans’ and that card not necessary fraud will be the major threat as we move through the next decade.

Dave Waterson, Chief Executive Officer, SentryBay said: “We welcome the timely publication of the Identity Intelligence Report 2010, which highlights the serious risks faced by corporates when individuals enter personal data into websites or social media sites.  This data can be harvested by international phishing gangs to set up fraudulent accounts and credit cards.  The report highlights a second major risk, which is that vulnerable staff within institutions themselves will also face coercion to assist criminal gangs.  With our system, users can literally see onscreen that the date they are entering is scrambled as it leaves the system – there is nothing left for fraudsters to steal.”

SentryBay’s Data Protection Suite provides the most effective protection from internal data theft by safeguarding all sensitive data entered into websites and other applications and proactively preventing users from visiting scam phishing sites. The software protects the actual data – every keystroke and mouse click is protected – which prevents keyloggers from uplifting any sensitive data. The suite also has the only technology that can identify and block a phishing site the very first time any user attempts to access it.

 

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