Nationwide Foils Phishers with Help from MarkMonitor.
SAN FRANCISCO, California, April 18 -Financial Services Giant Achieves ROI With Antiphishing Solutions in Just Three Months.
MarkMonitor®, the global leader in enterprise brand protection,
announced Nationwide Building Society (Nationwide), the U.K.-based financial
services giant, has successfully deployed Antiphishing Solutions from
MarkMonitor to automatically identify and shut down phishing scams. After
just three months of use, Nationwide reports the solution has paid for itself
in prevented phishing and other online fraud attacks.
According to the Anti-Phishing Working Group (APWG), 90 percent of
phishing attacks carried out in December 2006 were perpetrated against
financial services companies. The Anti-Phishing Working Group also estimates
that overall financial losses due to phishing top $1 billion per year. As a
leading European financial institution, Nationwide found itself one of the
targets for online scammers.
To combat this issue, Nationwide created a Strategic Fraud Initiative
group within the company and turned to MarkMonitor for its comprehensive
Antiphishing Solutions. Implemented in just 10 days, MarkMonitor made an
immediate impact on Nationwide's bottom line, shutting down hundreds of
phishing scams within the first few months.
Prior to working with MarkMonitor, Nationwide staff manually tracked
phishing scams carried out against the company. "It became extremely
difficult to shut down phishing sites quickly enough and cope with the number
of incoming e-mails from customers reporting phishing attacks or
suspicious-looking Web sites," said Peter Corrie, Head of the Strategic Fraud
Initiative for Nationwide.
MarkMonitor is a key component of Nationwide's Strategic Fraud Initiative
and a valued partner in helping the company run its business. "With online
fraud increasing exponentially each year, it is paramount for companies like
ours to tackle the problem head-on in order to minimize revenue losses and
protect our members," added Corrie. "MarkMonitor has enabled us to quickly
address daily online fraud activities so we can refocus our energies on
emerging, future threats."
"Top financial services institutions like Nationwide are quickly
understanding the need and strategic value of taking an aggressive, proactive
stance against phishers and other online scammers," said Irfan Salim,
President and CEO of MarkMonitor. "MarkMonitor clients rely on our advanced
technology solutions and counsel in order to increase revenue, safeguard
their brands and improve customer loyalty."
Source: MarkMonitor
Press Contacts:
Te Smith, MarkMonitor,
+1-831-818-1267 (mobile)/+1-415-278-8400,
te.smith@markmonitor.com
Erin Santy,
A&R Edelman for MarkMonitor,
+1-650-762-2871 (office)/+1-650-281-5391 (mobile),
esanty@ar-edelman.com
