Nationwide Foils Phishers with Markmonitor: Financial Services Giant Achieves ROI with Antiphishing Solutions in Three Months
As a leading UK-based financial institution, Nationwide Building Society became one of a number of prime targets for online fraud as offenders increasingly used the organization as a "test bed" for online phishing scams. Nationwide noticed a dramatic rise in phishing attacks in 2006, up from two or three attacks per month in 2005 to more than 100 per month the following year. As a result, staff became almost overwhelmed with the work required to track these cases, shut down illegal web sites, and take action against offenders. As a key component of the organization's Strategic Fraud Initiative, Nationwide deployed MarkMonitor® AntiPhishing Solutions in just 10 days to tackle online fraud. Automatically shutting down dozens of phishing sites every month, MarkMonitor AntiPhishing Solutions has paid for itself in just three months. With MarkMonitor, Nationwide is saving thousands of pounds in monthly costs associated with phishing scams. As MarkMonitor has automated anti-phishing processes, the organization can refocus energies on emerging and future threats.