Return Path Teams up with BITS & FS-ISAC to Combat Phishing Against Financial Institutions
Today, Return Path is pleased to announce that we have entered into a partnership with the BITS (technology division of the Financial Services Roundtable) and FS-ISAC (Financial Services Information Sharing and Analysis Center) organizations to offer our proactive anti-phishing solution, Domain Assurance, to its members. You can read more about the partnerships here and here.
If you've used email for any length of time, it should come as no surprise that financial institutions and financial services companies of all sizes are the most frequent targets of phishing. According to the December 2011 RSA Monthly Online Fraud Report, phishing against banks in the United States targeted nationwide or large regional banks 91% of the time. In fact, the prevailing trend has been that phishing incidents continue to rise while overall spam volumes have been on the decline, and the frequency of targeted phishing attacks is also increasing. Phishing as a vector for cyber crime is not going away. It's only becoming more dangerous and difficult for users to discern legitimate emails from fraudulent ones.
I view this as a great opportunity for Return Path as well as for the FI members of the BITS and FS-ISAC organizations to fight back. Email phishing and fraud continually ranks near the top of the list of concerns facing financial services companies causing billions of dollars per year in hard-dollar losses. Additionally, there are serious brand loyalty and customer trust issues that are by-products of phishing attacks that are more difficult to measure, but have obvious effects on email engagement and click-through. These factors together can also ultimately have an effect on deliverability. Return Path is uniquely able to address all of these issues in a single comprehensive product suite.
In conjunction with today's announcement, Return Path is also offering a special offer on Domain Assurance for all BITS and FS-ISAC members. Learn more here.