Tech Firms are Backbone of new Anti-Fraud Alliance

PORTLAND, Ore. – Five major companies in the online security space are coming together to create what they call the financial services industry’s first end-to-end anti-fraud and identity theft solution network. Called the Anti-Fraud Alliance, members include online banker Corillian Corp., online security giant Symantec, Internet monitoring and digital brand protection specialist NameProtect, online authenticator PassMark Security and Internet Identity, an anti-phishing and defense services firm. The companies said they intend to jointly provide services and solutions dedicated to the reduction and prevention of phishing, identity theft and other online fraudulent activities in a “seamless, end-to-end solution.” “With an average of more than 1,000 new phishing attacks happening each month across the Internet, there is a need for solution providers to join together to fight the increasing threat of phishing, online fraud and identity theft,” said Jim Maloney, chief security executive for Corillian. The Anti-Fraud Alliance has established a Web site at www.antifraudalliance.com.