Problem: Phishing and Malware

Cyber criminals continue to poison today’s always-online world with phishing attacks and malware.

Phishing attempts to acquire sensitive information, such as usernames, passwords and credit card details, by masquerading as a trustworthy entity (for example, by impersonating a password reset e-mail and web site from PayPal). These phishing attacks build on brand recognition to steal vital information from customers or users – the more time and money spent building a brand, the better it is for phishing.  So the attacks hit where it hurts most, instantly eroding consumer trust in a recognized company.

Since the term phishing was coined in 1996, these cyber attacks have grown in both prevalence and sophistication. In fact, according to a January 2010 report from a leading security software company, phishing activity occurred in one out of every 562.3 e-mails. Phishing is an ever-evolving threat, and new solutions to help detect, diagnose and proactively mitigate it are critical to staying one step ahead.

In a Gartner research report entitled “The War on Phishing is Far from Over,” the firm highlighted a 40 percent increase in phishing, with money stolen from more than five million U.S. consumers due to phishing attacks in 2008 alone. Moreover, according to the Anti-Phishing Working Group, a key trend in 2010 is the threat of cyber criminals using targeted phishing e-mails to steal funds from corporate banks, not just from consumers. ACH fraud is growing rapidly, and with it, the numbers of companies and individuals suing to recover fraud loss. IID helps ISPs, website hosts, domain registrars and registries reduce to near zero their incidence of phishing and other fraudulent abuse.

Malware burrows in

Malware presents a growing threat.  Criminals have cleverly increased efforts to dupe victims into downloading malware onto their computers, often by posing as a recognizable organization. Once malware is on a victim’s computer, the perpetrator can monitor or control both personal and business computer activity – enabling them to steal data, send spam, and commit fraud. Criminals lure people in by creating appealing web sites, desirable downloads and compelling stories, then trap unsuspecting victims, often through “drive-by” websites where malware automatically installs.

Results from an Internet security report published in 2008 suggested “the release rate of malicious code and other unwanted programs may be exceeding that of legitimate software applications." Malware has caused serious damage to enterprises, including theft of confidential data, theft of bank funds, and loss of control over key corporate systems including DNS – not to mention the harm to a valuable reputation and the costs associated with recovering from a malware attack. In fact, technology research firm Computer Economics Inc. reports that malware damages worldwide in 2006 totaled $13.3 billion.

IID has been working for more than a decade to combat malicious activity on the Internet that can damage a brand’s image and bottom line.  From site detection to site takedown to malware disruption – the company offers fast, affordable and effective solutions that help organizations ensure their online brands are trusted.