Symantec Launches Online Fraud Protection
May 19, 2008 – 7:26 PMSymantec Corp. today announced the availability of Symantec Online Fraud Protection, a comprehensive program that includes Symantec services, education and ongoing monitoring and management capabilities designed to protect businesses that conduct large volumes of financial transactions and their customers from losses due to online fraud.
This offering helps businesses shield their customers from a variety of online threats, including phishing and pharming. By helping their customers safely conduct transactions online, businesses can boost customer loyalty, minimize financial loss and legal exposure, and reduce risks to their corporate brand.
Corporate brand erosion as a result of online fraud is a significant problem facing all organizations that conduct business online. Symantec’s most recent Internet Security Threat Report, Volume XIII released in April 2008 indicates that threats from online fraud continue to plague both enterprise organizations and consumers. In the last six months of 2007, Symantec observed more than 85,000 phishing hosts – computers that can host one or more phishing Web sites – an increase of 167 percent from the first half of 2007.
“Fraud attacks are becoming more sophisticated and are increasingly targeting businesses and customers with devastating effects,” said Rob Enderle, president and principal analyst, Enderle Group. “Organizations generally lack an effective comprehensive approach to mitigating online fraud. In addition, the damage that results from fraud now goes beyond just financial damage to impacting the global brand. This combination should make reducing the related risks a primary business objective.” Leveraging Symantec’s broad footprint and position as a leader in security, Symantec Online Fraud Protection is a flexible program that combines a variety of offerings based on customer need. This offering is also backed by Symantec’s Global Intelligence Network which provides the most comprehensive view of Internet attack activity based on security intelligence data gathered from around the world. Symantec’s Global Intelligence Network includes 11 security response centers that analyze data from more than 2 million email accounts, 120 million systems and more than 40,000 devices in more than 200 countries. Symantec Online Fraud Protection includes: