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News

Phishing protection gains award for MarkMonitor customer.

MarkMonitor : 23 April, 2008  (Application Story)
Nationwide gains anti-fraud strategy award using Phishing protection technology supplied by MarkMonitor.
MarkMonitor has announced that its customer, Nationwide Building Society (Nationwide), the UK-based financial services giant, won Anti-Fraud Strategy of the Year at the 2008 Financial Sector Technology (FST) Awards in London. The FST Awards recognise excellence and innovation in the field of information technology within the UK and European financial sector. Anti-Fraud Strategy of the Year is awarded to the financial services provider that implements the best strategic initiative to protect customers from phishing, identity theft and other fraudulent scams.

According to the latest report from the AntiPhishing Working Group, the number of unique phishing websites increased to 25,328 in December of 2007, an increase of nearly 1,700 from the previous month. As a leading UK-based financial institution, Nationwide became one of a number of prime targets for online fraud as offenders increasingly used the organisation as a "test bed" for online phishing scams. To combat this problem, Nationwide developed and implemented a Strategic Fraud Initiative to prevent online fraud and regain consumer confidence in internet banking. A key part of this initiative was the adoption of AntiPhishing Solutions from MarkMonitor, an investment which paid for itself in just three months.

"MarkMonitor allows us to combat phishing attacks and actively prevent future attacks," said Peter Corrie, head of the strategic fraud initiative for Nationwide. "From start to finish the implementation took only 10 days. We consider MarkMonitor a partner in our anti-fraud efforts and a major contributor to our receiving this distinguished award."

"When major brands like Nationwide understand the strategic value of taking proactive measures against serious online threats, it results in a positive outcome for their brands, their customers and their revenue," said Charlie Abrahams, vice president and general manager, EMEA. "By recognizing Nationwide's Strategic Fraud Initiative, FST, one of the UK's leading financial publications, validates the company's leadership in adopting a preventative approach to the problem before customers are affected. On behalf of MarkMonitor, I congratulate Nationwide on winning this award and look forward to our ongoing partnership."
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