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?