Online Businesses Could Do More to Protect their Reputations and Prevent Consumers from Phishing Schemes

In a study released March 3, the Federal Trade Commission’s Office of Technology Research and Investigation (OTech) reports that most major online businesses are using proper email authentication technology to prevent phishing e-mails, but few of these businesses are taking full advantage of the latest technologies to combat phishing.

Phishing is a type of online scam that targets consumers by sending them an e-mail that appears to be from a well-known source such as an internet service provider, a bank, or a mortgage company. It asks the consumer to provide personal identifying information, and then the scammer uses the information to open new accounts or invade the consumer’s existing accounts.