What to do when Your Institution has been "Phished"
Question: What must be done when a financial institution realizes it has been the subject of a phishing attack?
Answer: Once a financial institution learns it has undergone a phishing attack, the race is on to close the target phishing site quickly. Professional fraudsters hamper this process by taking steps to ensure it's as difficult and time consuming as possible, often hosting fraudulent Web sites in developing countries with limited law enforcement resources.
Currently, there are countermeasure services offered to help banks and other financial institutions combat phishing techniques. Some packages come with a 24-hour monitoring service to cover all a financial institution's online identities, such as trademarked language and corporate logos. When a fraudulent site is detected, however, it's important that a service responds with a set of actions to significantly limit access to the Web site immediately.
Secure Identity Systems is the only company in the U.S. that offers the end-to-end solution for Red Flag compliance including: Initial Risk Assessment, Policies and Procedures Manual, New Account Authentication, Change of Address Verification, Identity Theft Protection with fully managed recovery, On-site Staff Training, and an Anti-Phishing Program with site take-downs. For more information, visit us online at www.secureidentitysystems.com, or contact us by phone: (615) 377-7661 or e-mail: bansley@secureidentitysystems.com.
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