Leading US Credit Unions Standardize on Proactive Anti-Phishing Protection from Cyveillance

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The number of credit unions using Cyveillance Anti-Phishing grew by 450% in 2006.

After an extensive review of anti-phishing offerings, Cyveillance with its comprehensive Internet monitoring technology, stood out for its ability to effectively identify phishing sites and take immediate corrective action to take them down. This unique approach allows us to proactively protect our customers from online scams that target their identities and accounts.

Cyveillance, the leading provider of online risk monitoring and management solutions, today announced demand for its Cyveillance Anti-PhishingTM solution grew by 450% among credit unions and regional banks in 2006, validating a growing trend in phishing attacks targeting small to medium sized organizations. Phishers are becoming more sophisticated in their attacks and targeting what they perceive as more vulnerable consumers – credit unions account for over 30% of all targeted phishing attacks against businesses regardless of size or industry.

Selected for its ability to provide continuous Internet monitoring and comprehensive protection against online fraud scams, in 2006 Cyveillance signed numerous new credit union and credit union association customers, such as the National Association of Federal Credit Unions (NAFCU), National Institutes of Health Federal Credit Union (NIHFCU), American Eagle Federal Credit Union (AEFCU), COCC and Schools Financial Credit Union.

“As more phishing attacks begin targeting credit unions, our members are constantly looking for aggressive solutions to protect against potential customer fraud,” said NAFCU Services Corporation President David C. Frankil. “What distinguished Cyveillance from other providers is their proactive approach. Cyveillance helps us quickly eliminate fraudulent sites and its ability to constantly monitor movement of compromised credit/debit cards and personal information – which is unique – was a major factor in selecting Cyveillance as a Preferred Partner. ”

Cyveillance Anti-Phishing provides advanced warning of potential phishing attacks through comprehensive Internet monitoring and real-time logging of fraudulent phishing sites. As counterfeit sites are identified, Cyveillance instantly delivers the intelligence about each attack to the targeted organization, enabling credit unions to take the appropriate security measures to take down the fraudulent site, eliminating the threat of identity theft and fraud to unsuspecting online customers. The service includes the industry’s first and only Service Level Agreement (SLAs) for phishing site take-down in 5 hours or less. In addition, Cyveillance can provide credit/debit card monitoring services for credit unions to proactively identify stolen card and personal information being openly sold or traded on the Internet, minimizing losses due to credit card fraud.

“As the largest federal credit union in Connecticut, we take the safety of our members’ identities and personal information very seriously,” said Eric J. Snyder, head of Network Security at AEFCU. “After an extensive review of anti-phishing offerings, Cyveillance with its comprehensive Internet monitoring technology, stood out for its ability to effectively identify phishing sites and take immediate corrective action to take them down. This unique approach allows us to proactively protect our customers from online scams that target their identities and accounts.”

Panos Anastassiadis, CEO of Cyveillance added, “2006 clearly demonstrated the ability of criminals to rapidly change and perfect their phishing techniques to defraud consumers and organizations and businesses. As such, organizations need to be able to quickly adapt to these evolving, targeted and blended attacks. Our comprehensive real-time anti-phishing services enable companies to enhance existing security solutions by quickly and accurately identifying Web sites where suspicious and anomalous behaviors have been detected, categorized and confirmed as a threat.”

For more information on Cyveillance Anti-Phishing, please visit http://www.cyveillance.com/web/solutions/modules/anti-phishing.htm.

About Cyveillance

Cyveillance, the leader in online risk monitoring and management solutions, provides an intelligence-based approach to security. Through comprehensive Internet monitoring, Cyveillance proactively identifies and eliminates threats to information, infrastructure and individuals. By continuously pinpointing online risks such as malware, phishing attacks, information leaks, counterfeit product distribution and other forms of Internet fraud, Cyveillance enables enterprises and OEM data partners to protect their reputation, revenues, and customer trust. Cyveillance serves over 250 leading companies, including over half of the Fortune 50 and 8 of the top 10 technology providers. For more information, visit http://www.cyveillance.com

Media Contact:             

Tony Welz    

Welz & Weisel Communications

703-218-3555

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