PhishLabs Joins Internet Fraud Alert

Collaborative project helps protect consumers from online fraud

CHARLESTON, S.C.--(AllPayNews)--PhishLabs, an ecrime management company, announced today that it has joined Internet Fraud Alert, a collaborative project between public and private entities to help protect consumers from online fraud.

“With phishing attacks at an all-time high, our philosophy at PhishLabs is that industry sharing is key to staying a step ahead of the bad guys”
Founded by Microsoft and National Cyber-Forensics & Training Alliance (NCFTA), Internet Fraud Alert creates a trusted and effective mechanism for participating researchers to report stolen account credentials discovered online to the appropriate institution responsible for that account. Through a centralized alerting system, powered by Microsoft technology, developed specifically for this program, Internet Fraud Alert will quickly inform companies about compromised credentials, allowing them to take the appropriate action to protect their customers.

In 2009, the Anti-Phishing Working Group (APWG) received more than 410,000 unique phishing email reports. Companies like PhishLabs, along with ISPs, industry researchers and law enforcement who investigate cybercrime frequently track down repositories of stolen credentials but have lacked an efficient and secure way to share this sensitive data with the appropriate financial institutions. Through Internet Fraud Alert, PhishLabs will be empowered to quickly and easily notify stakeholders so they are able to protect their customers and prevent potential financial losses.

PhishLabs also plans to contribute to the anti-cybercrime community and help protect users by reporting compromised user data to the IFA for safe redistribution to other affected organizations.

“With phishing attacks at an all-time high, our philosophy at PhishLabs is that industry sharing is key to staying a step ahead of the bad guys,” says John LaCour, founder and chief executive officer of PhishLabs. “Our clients will benefit by being proactively notified of compromised user credentials and card data.”

PhishLabs joins other participating stakeholders, including retailers, financial institutions, services providers, technology companies, academic researchers, consumer advocates and government agencies – all with the shared interest of reducing online fraud and protecting consumers.

About PhishLabs

PhishLabs is the leading ecrime management company focused on combating all types of Internet threats by attacking the entire cybercrime ecosystem. PhishLabs reduces the size and impact of cybercrime attacks through a comprehensive set of anti-phishing, and anti-malware, and other ecrime management services that go beyond traditional, reactive approaches. PhishLabs solutions help prevent credential theft, stop fraud losses, and protect the trust earned from customers. For more information, visit PhishLabs or contact info at phishlabs.com.

Contacts
PhishLabs
Catherine Cook, 202-386-6001
Vice President, Marketing
catherine@phishlabs.com
twitter.com/phishlabs