AOL Launches Major Anti-Phishing Effort

America Online announced today a major campaign against phishing, a method by which criminals use phoney emails and Web sites to convince consumers to give out personal information, which is then used for identity theft.

AOL chose Cyota as partner in the effort, to implement a 24/7 monitoring process that will identify phishing scams and block access to fraudulent Web sites for AOL users.

Tatiana Platt, AOL Senior Vice President and Chief Trust Officer, says the company is trying to "cut the lines before a phisher can reel them in and steal sensitive financial and personal information." She says that in coming months "we'll continue to roll out new and stronger technological and legal defenses against phishers, scammers and identity thieves."

Even prior to the initiative announced today, AOL has implemented measures both visible and behind-the-scenes to protect its members from identify theft via phishing. The company has used specially branded AOL Official Mail for its own communications; this correspondence reputedly cannot be faked by phishers. AOL's spam-blocking system also works to block phishing emails. Members can receive AOL Money Alerts that signal any unusual activity in their bank or credit card accounts. And the company has also undertaken extensive educational efforts to inform subscribers of the dangers presented by phishers.

The news release that came out today says that AOL's partner Cyota is "the leading provider of security and anti-fraud solutions for financial institutions" and serves clients in North America, Europe and Asia-Pacific. Cyota offers an anti-phishing solution called FraudAction. Today's announcement says that FraudAction "detects phishing attacks, shuts down phishing sites, performs forensic work and works with banks and law enforcement agencies to prevent future attacks."

AB -- 4/20/05