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PayPal gives banks a free phishing lesson

Reading the PayPal blog is worthwhile, particularly as this item appeared the other day. It’s all about stamping out
phishing with Michael Barrett, chief information security officer, blogging
about the ways in which PayPal were attacking this issue. As PayPal and eBay are
the target of three-quarters of all phishing attacks, according to Sophos in
July 2006, they should know what they are talking about.

The reason why Michael’s blog is relevant to you, me and all the bankers and
citizens of the world, is that he thinks they have found a way to stamp out
phishing losses. Between July 2006 and July 2007, the phishing rate targeting
PayPal and eBay dropped from peak rates of over 80% to under 10%.

How did they do it?

Read
more …

About Chris M Skinner

Chris M Skinner
Chris Skinner is best known as an independent commentator on the financial markets through his blog, the Finanser.com, as author of the bestselling book Digital Bank, and Chair of the European networking forum the Financial Services Club. He has been voted one of the most influential people in banking by The Financial Brand (as well as one of the best blogs), a FinTech Titan (Next Bank), one of the Fintech Leaders you need to follow (City AM, Deluxe and Jax Finance), as well as one of the Top 40 most influential people in financial technology by the Wall Street Journal’s Financial News. To learn more click here...

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