Requirements for Guarding Against Phishing Scams

According to a component of the Red Flag rule, each financial institution must have a method to detect phishing activities and a means to police the attacks. As the online threat risks change daily, phishing detection increasingly requires constant Web site surveillance of a financial institution's domains, trademarks and commonly used phases to ensure the safety of customer information. If a fraudulent Web site is identified, there must be a process in place to take it down quickly to avoid any further harm to the public, while deterring future attacks.