Phishing is a confidence problem.  Last year the Royal Bank of Scotland paid out $285.7 million to their customers who experienced a service outage due to distributed denial-of-service (DDoS) attacks.

Mutual TrustIn early December the bank was hit again with a similar attack.  While posting on Twitter a redirect link to an alternate RBS login page at the time seemed like a quick and easy solution, it ended up becoming the fertile ground for a series of phishing attacks, where customers were redirected to fake login pages, leading them to disclose their login credentials.   Far from being an isolated incident, a report from Webroot shows that 55% of corporate hacks are phishing attacks.  The attackers are going for the low hanging fruit and they leave scorched earth behind.  Financial losses are mounting and leave companies with smaller IT budgets, while customers are loosing faith in their service providers being able to protect their identify information and their money. 

One of the best ways to improve customer trust is by using Tricerion’s mutual authentication technology.  We built an authentication mechanism to prevent phishers from being able to replicate realistic copies corporate websites. Users know when they are on the right website when their personalized login keypad is displayed correctly and it includes the necessary buttons to enter the user’s unique graphic password.  The bank authenticates to the customer and then the customer authenticates to the site.  It is a unique, effective, and cost efficient proposition.  Click here to learn more.