July 16, 2008
SIS Protects Financial Institutions From Phishing Attacks
Secure Identity Systems, a provider of identity theft protection systems, has announced that its anti-phishing services will help financial institutions gain control of their brand integrity online, while protecting consumers from phishing attacks.
Most important, these services enable financial institutions to fulfill Section 114 of the Identity Theft Red Flags and Address Discrepancies under the Fair and Accurate Credit Transactions Act (FACTA), which requires them to implement 'reasonable policies and procedures' for identifying, thwarting, and preventing red flag activitiesincluding phishing attacksby November, 2008.
The service identifies phishing attacks, where e-mails and web sites that display the financial institution's brand are used to trick unwary consumers into providing account and logon information.