BEDFORD, Mass., Dec. 6, 2011 /PRNewswire/ — Now in its seventh year operating one of the world’s foremost commercial online anti-fraud services, RSA, The Security Division of EMC (NYSE: EMC), today announced that its RSA FraudAction(SM) anti-phishing and anti-Trojan service recently reached a milestone in the fight against cyber crime. The RSA FraudAction service shut down its 500,000th online attack on behalf of its global customers and, to date, has helped them prevent an estimated US$7.5 billion** in potential fraud losses.
The RSA FraudAction service is a proven and proactive managed service that is engineered to help protect customers, primarily in the banking and online retail industries, against phishing, pharming and Trojan attacks. The service is designed to provide 24x7x365 monitoring and fraud detection, real-time alerts and reporting, forensics and countermeasures, and attack site blocking and shutdown. Today, hundreds of global organizations rely on the RSA FraudAction service to help protect their customers against the latest online threats such as phishing attacks.
“Phishing has reached pandemic levels globally, impacting business and consumers alike, with billions of dollars being lost to cyber criminals – yet electronic commerce and online banking continues to thrive in nearly every corner of the world,” said Peter Cassidy, Secretary General of the Anti-Phishing Working Group, a non-profit global pan-industrial and law enforcement association. “Industry and governments are collaborating to combat the threats and are finding innovative ways to successfully leverage technology, intelligence sharing and relationships to identify and take down phishing attacks more rapidly than before which helps suppress their effectiveness and greatly diminish their potential impact.”
According to November 2011 data compiled by the Anti-Phishing Working Group, the number of worldwide phishing attacks in the first half of 2011 (115,472) is up more than double over the same period last year (48,244) and nearly matches the full-year phishing attack totals for 2010. Despite this, the median phishing site uptime for attacks has decreased by more than 22% year-over-year (from 13 hours, 42 minutes, to 10 hours, 44 minutes).
“This milestone translates into significant cost savings for our clients and helps to establish the trusted environment their customers depend upon,” said RSA President Tom Heiser. “In the first half 2011 alone, the RSA FraudAction service saved our customers an estimated $520 million that might otherwise be lost to online attacks such as phishing and pharming. Not only does this enable customers to operate more profitably, RSA’s work helps to raise the cost of fraud, making these kinds of attacks economically unattractive to cyber criminals.”
The RSA FraudAction Research Lab recently estimated that worldwide losses incurred from phishing attacks during the 12-month period of the second half 2010 through the first half 2011 reached nearly $1 billion with more than one-third of those losses coming from organizations located in the U.S. and U.K.
The RSA Anti-Fraud Command Center serves its global customers from two facilities within EMC’s Centers of Excellence located in Herzeliya, Israel and Cork, Ireland. More information can be found at the RSA Online Fraud Resource Center.