|MailFrontier, a vendor of security products for messaging applications, has launched the beta version (pre-release software) of an application that could cut down fraudulent emails and spam. MailFrontier estimates identity theft costs consumers an average of $1,400 per fraud as well as up to $16,000 in lost earnings, according to a September 2003 report by the non-profit Identity Theft Resource Center in San Diego, California. |
In recent months, there has been a major increase in email scams from fictitious online casinos which lure customers to pay money to win draws. According to a recent industry report, the growth of online fraud is outpacing Internet use, with security events per managed device increased by nearly 99 percent between May and August of 2003.
MailFrontier's Matador version 3.5 uses proprietary analytics software to automatically detect and categorize fraudulent emails for Microsoft's Outlook and Outlook Express email software. It also alerts its customers when new types of fraud appear and has a tool within the application that lets users easily report any scam-mail (also known as Phishing) that gets through.
Phishing is the practice of scamsters setting up bogus websites ranging from fake casino to charity websites that look like those of legitimate companies in an attempt to trick unwary consumers into giving up their credit card numbers.
Todd Bransford, VP Product Marketing, of Cyveillance, a competitor to MailFrontier said, “Our Cyveillance information will help Matador be smarter. For example, Cyveillance could tell Matador that the domain from which a particular email originated is a gambling site, which would be suspicious.”