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Security Services: Symantec Online Fraud Protection

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Symantec Online Fraud Protection
Symantec
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$100,000 per year per brand protected and from $75,000/year for an online fraud specialist


Once Internet commerce became big business, it was inevitable that Inter-net crime would become big business as well. Online fraud, typically some kind of identity theft such as phishing, costs companies and their customers billions of dollars.

"What we're really talking about is brand erosion," says Ted Donat, director, product management, for Symantec Consulting Services. "If you get an email from Joe's_bank.com, and you read about a phishing attack or were the victim of a phishing attack, you're going to think twice about opening that email."

Symantec's recently announced Online Fraud Protection service is a multifaceted package to help organizations doing a high volume of Internet transactions. Typically these are large banks, brokerages and retailers, but Donat says Symantec is also drawing interest from smaller banks, which are also targeted.

The service includes an initial on-site assessment in which Symantec quantifies the risk based on likelihood of fraud and its global research.

Other available components are phishing and transaction monitoring; incident response to contain damage and curtail criminal activity; monitoring of malware targeting the company's brand and analysis of new malware behavior; and consumer education and protection.

The service can also include a resident security specialist, with access to security intelligence, to provide security expertise and serve as point person for all online antifraud efforts.

--NEIL ROITER

This was first published in September 2008

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