September 21, 2004 — (WEB HOST INDUSTRY REVIEW) — Information security firm Symantec (symantec.com) announced on Monday that it has launched the Symantec Online Fraud Management Solution, designed to help financial institutions and online retailers diminish the chance of email fraud.
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Symantec says email fraud poses a significant threat to financial companies and e-tailers, as well as their customers. The Symantec Online Fraud Management Solution offers a multi-pronged solution for mitigating online fraud, protecting financial institutions and their customers by blocking fraudulent emails and alerting the company that its customers are under attack.
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The email fraud detection network automatically detects and blocks fraudulent email. Using a probe network and millions of decoy accounts, it attracts and delivers suspicious email to Symantec researchers who analyze the messages, identify fraud attacks and create and automatically deploy anti-fraud filters to block the fraudulent emails. It also provides alerts to enterprises within minutes so steps can be taken with law enforcement to shut down fraudulent sites and identify perpetrators.
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According to Symantec, the Online Fraud Management Solution also works to protect customers from email fraud through education. The company offers a comprehensive resource center to provide information on Internet security threats and help customers assess the risk of their own computers. Symantec also provides consulting services to help customer get fraud mitigation services up and running.
