Entrust Joins Financial Services Technology Consortium Counter Phishing Project

FSTC is a consortium of leading North American-based financial institutions, technology vendors, independent research organizations, and government agencies focused on driving forward interoperable, open-standard technologies that provide critical infrastructures for the financial services industry. In a recent survey sponsored by Entrust, 80 percent of on-line users indicated that they are concerned with the security of their on-line identity. The results showed a compelling business imperative to address this issue with 72 percent of users who do not currently bank online indicating they would consider doing so if the security of their on-line identities were better protected. Furthermore, 65 percent of respondents said that the protection of their identity would influence their selection of the bank with whom they deal. FSTC is focused on defining technical and operating requirements of financial institutions for counter-phishing measures. This includes clarifying the infrastructure fit, requirements, and impact of technologies when deployed in concert with customer education, enforcement, and other industry initiatives.