Consumers and businesses are increasingly subject to fraud through phishing attacks and other online scams, due in part to the fact that many of them are still using simple passwords to protect their accounts and sensitive transactions. The current explosion in online identity theft is both hurting e-business and damaging consumer confidence in the Internet.

In a study conducted jointly by RSA Security and Opinion Research Corporation in February 2004, more than one in three consumers said that traditional User ID/Password schemes do not offer enough protection for their personal information. Another study conducted in the United Kingdom by RSA Security and MORI Research relating to online banking showed that nearly 40 percent of all Internet users would be more likely to bank online if security measures improved.

"The Anti-Phishing Working Group is esteemed to have RSA Security as a new sponsoring member," said Peter Cassidy, Secretary General of the Anti-Phishing Working Group. "The company's long tenure in authentication research will be tremendously useful, informing our efforts with an enduring institutional memory that will help us achieve the depth of understanding we need to engage these problems wisely. As a relatively new organization speaking to a complex security threat, having one of the most respected leaders of the field carrying the banner with us also does good things for the APWG's esprit de corps."

"RSA Security is pleased to be working to combat phishing alongside some of our leading technology partners and enterprise customers in the Anti-Phishing Working Group," said John Worrall, Vice President of Worldwide Marketing at RSA Security. "As phishing attacks and online identity fraud continue to increase internationally, it is crucial to have broad public-private coalitions such as this in order to share information and solutions that will help empower consumers and businesses. Phishing must be eliminated and personal information protected if we are to enable the next round of innovation on the Internet."