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December 13, 2004

Industry Big-Wigs Team Up to Launch Digital PhishNet

Representatives from a number of industries and international law enforcement agencies yesterday announced the establishment of Digital PhishNet, a collaborative enforcement operation that unites industry leaders in technology, banking, financial services and online auctioneering with law enforcement to tackle 'phishing', a destructive and growing form of online identity theft.

Digital PhishNet establishes a single, unified line of communication between industry and law enforcement, so that critical data to fight phishing can be compiled and provided to law enforcement agencies in real time. Phishing is a harmful and deceptive emerging online threat that involves directing consumers to phony Web sites, usually through forged or 'spoofed' spam e-mails, to input personal financial information such as credit card numbers and passcodes. While other industry groups have focused on identifying phishing Web sites and sharing best practices and case information, Digital PhishNet is the first group of its kind to focus on aiding criminal law enforcement and assisting in apprehending and prosecuting those responsible for committing crimes against consumers through phishing.

Developing supporters of Digital PhishNet include America Online Inc., Digital River Inc., EarthLink Inc., Lycos Inc., Microsoft Corp., Network Solutions, VeriSign Inc., the Federal Bureau of Investigation (FBI), the Federal Trade Commission (FTC), the U.S. Secret Service (USSS) and the U.S. Postal Inspection Service (USPIS).

"We believe this industry-law enforcement collaboration is the right approach to protecting consumers and their online brands from fraudulent activities," said Champ Mitchell, chairman and CEO of Network Solutions. "It is a coordinated effort that brings together the capabilities and resources - those from technology, banking and financial services, together with law enforcement - needed to attack this growing problem."

06:05 AM in News | Permalink