Research: 88 Percent Of American Web Users Unable To Spot Phishing Sites

PRESS RELEASE

BOSTON, MA--(Marketwire - June 15, 2009) - Internet Retailer Conference & Expo, Booth #1043 - A YouGov survey* commissioned by VeriSign, Inc. (NASDAQ: VRSN) has revealed that 88 percent of Web users in the United States are at risk from online fraud because they can't identify the different forms of phishing currently happening online.

The research asked each respondent to identify which of two Web site images presented side by side was a fraudulent phishing site. The most frequently missed "tell tale" indicator was the misspelling on the site, with 88 percent failing to spot the spelling mistakes that would have identified the phishing site. The other such tell tale indicators respondents failed to spot include:

-- No padlock symbol in the browser address bar -- 68 percent duped -- URL containing unspecified, numerical, domain name -- 42 percent duped -- Unnecessary request for additional account information -- 33 percent duped

"In today's economic environment, businesses have a hard enough time competing without having to battle fraudulent, look-alike phishing sites," said Craig Spiezle, executive director of the Online Trust Alliance. "Just one phishing attack can dramatically diminish the relationship an online business has built with its customers. For these businesses, the stakes are enormous."

Phishing scams and online fraud have created doubt and concern among online shoppers. To regain their trust, site owners need an easy, reliable way to show customers that their transactions are secure -- and that they are who they say they are. Security vendors and Internet browsers have combined forces to establish the Extended Validation (EV) standard for SSL Certificates. With this technology, the browser and certificate authority control the display, making it difficult for phishers and counterfeiters to hijack a brand and its customers.

"With nine out of 10 people in the U.S. vulnerable to phishing scams, a method for easily identifying a genuine site from a phishing site is a must for all businesses online," said Tim Callan, vice president of product marketing at VeriSign. "By adopting Extended Validation, a site owner makes it easy for Web users to see that the site they are on is genuine. When a Web user visits a site secured in this way, a high-security browser will trigger the address bar to turn green. For additional clarity, the name of the organization listed in the certificate as well as the certificate's security vendor is also displayed."

"We were blown away by the impact our EV SSL Certificate had on our company; an 87 percent higher registration rate is tremendous," said Darren Shafae, founder and vice president of Paper-Check.com. "It's one thing to encrypt transmissions online, but quite another thing to assure customers that the recipient is the intended party and not an impostor. And that's just what the EV SSL green address bar signifies."

Phishing, a nationwide issue

Of the seven countries included in the research -- the United States, Germany, Sweden, Australia, India, Denmark and the United Kingdom -- the United States is the least likely to identify the tell tale signs of a phishing site that were tested for in the survey. In addition, the United States is the only country where the youngest section of the population, those between 18 and 24, is the least likely age group to identify a phishing site.

Knowledge is key to fighting phishing. To this end, VeriSign has compiled its Top five tips to distinguish a real site from a phishing site.

Consumers should check whether or not a site is genuine and whether it is taking measures to protect their personal details by looking for the following: