22 July 2018
Visit www.gemalto.com

PassMark pitches anti-phishing solution

24 February 2004  |  5645 views  |  0 PassMark pitches anti-phishing solution

PassMark Security, a company set up by Bill Harris, former CEO of Intuit and PayPal, has introduced a new online authentication system designed to deter e-mail phishing scams.

The PassMark system relies on the exchange of personalised digital images between customer and bank Web site in advance of password entry. Since a fake Web site will not know the customer's PassMark, it's safe for the customer to enter his password. The same system can also be used to authenticate outgoing e-mail from the bank to the customer.

PassMark Security founder and chairman Harris says: "Phishing is a mass attack against millions of unsuspecting customers, so the solution has to be extremely simple for all Internet users to understand and use."

Harris says he uses a picture of his son as his own personal PassMark. "Research indicates that users remember their PassMarks after logging in just once or twice," he says. "People are visual - they forget names, but remember faces."

The FBI calls phishing "the hottest and most troubling new scam on the Internet". Phishing attacks have been launched against most of the major financial institutions and e-commerce sites around the globe. The Anti-Phishing Working Group reports that the number of phishing attacks increased by 50% between December and January, when an estimated 100 million scam e-mails were sent to Internet users.

Taher Elgamal, co-chairman and chief technology officer at Securify, describes PassMarks as a "brilliantly simple solution" to phishing.

"Hardening your web servers will not deter attacks against the customer such as phishing," he says. "PassMarks - because they are a customer-focused solution - are a clever and effective way to combat this increasingly prevalent problem."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

E-mail fraud and phishing growing in incidence and sophistication

E-mail fraud and phishing growing in incidence and sophistication

17 February 2004  |  7319 views  |  0 comments
Cyota launches anti-phishing service

Cyota launches anti-phishing service

27 January 2004  |  5402 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit iliad-solutions.com/Visit https://secure.vasco.com

Who is commenting?

Top topics

Most viewed Most shared
Calmejane quits Lloyds Bank to join SocGenCalmejane quits Lloyds Bank to join SocGen
13579 views comments | 6 tweets | 8 linkedin
Hong Kong plans September go-live for blockchain-based trade financeHong Kong plans September go-live for bloc...
11247 views comments | 9 tweets | 17 linkedin
Mastercard enlists Worldpay to push Vocalink's Pay by Bank appMastercard enlists Worldpay to push Vocali...
10116 views 19 comments | 15 tweets | 30 linkedin
IBM to test dollar-pegged 'stablecoin'IBM to test dollar-pegged 'stablecoin'
7453 views comments | 4 tweets | 14 linkedin
Bringing about new systems and faster payments globallyBringing about new systems and faster paym...
7270 views comments | 2 tweets | 7 linkedin

Featured job

Find your next job