Barclays and Barclaycard fight phishing with Cyota FraudAction

Tuesday 5 October 2004 00:11 CET | News

Cyotas FraudAction service has been selected and successfully deployed by Barclays Bank Plc and Barclaycard, one of the largest retail banks and the largest card issuer in Europe, to pro-actively battle the growing problem of email fraud, also known as phishing.

After careful due diligence of the different technologies in the market, the bank launched a pilot of Cyotas FraudAction service earlier this year. Following the pilot, the bank has decided to extend the program and move into full production mode. Cyotas service includes real-time detection of phishing attacks, shutting down fraudulent sites as well as conducting forensic work on behalf of the bank, patent-pending counter-measures and more. Cyotas FraudAction service includes several modules: the Real-time Detection and Alerts Module allows the bank to detect phishing incidents extremely fast, typically the bank knows that phishing emails are being sent before the banks accountholders are aware of it, thus saving a considerable amount of time in dealing with the attack. The Risk and Severity Assessment Module provides the bank with information and analysis regarding the severity of the attack and how to respond effectively. The Taking Action Module, utilizing Cyotas 24x7 Anti Fraud Command Center, acts on behalf of the bank in order to shut down spoofed sites and contact ISPs, taking the burden off the bank. Cyotas proprietary Counter-measures Module allows banks to increase the chances of catching the fraudster, reduce potential damages from the phishing attack and curb future attacks.

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Categories: Payments & Commerce | Payments General
Countries: World
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