Monday, 8 October 2007

Yahoo,eBay, PayPal To Jointly Tackle "Phishing" Scams

Yahoo says it will work jointly with online bidder eBay and online payment firm PayPal to prevent scammers from sending phishing mails to Yahoo mail users....

Yahoo says it will work jointly with online bidder eBay and online payment firm PayPal to prevent scammers from sending phishing mails to Yahoo mail users.

Phisihing means the luring of an Internet user to reveal personal details (like passwords and credit card information) on a fake web page or email form pretending to come from a legitimate company (like their bank).

Yahoo said it has worked with eBay to devise a way to block the fake messages from being mailed.
Most eBay phish mails say the users account will be disabled or cancelled if they don't validate password, credit card or other sensitive information.

Yahoo, eBay and PayPal are installing DomainKeys Identified Mail technology that verifies messages actually come from eBay or PayPal before delivering them.

"While there is clearly no silver bullet for solving the problems of phishing and identity theft, today's announcement is great news," said PayPal chief information security officer Michael Barrett.