Lack of phishing attacks data sharing puts $300M at stake annually

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A Contrary Perspective On Data Sharing

I completely agree that speed is the critical matter in taking down phishing sites. Unfortunately, I respectfully have to differ with Moore, Clayton and Danchev's suggested method for improving those times. Their prescription is exactly the wrong one. Rather than improve protection for banks and consumers, this proposal would in fact have the opposite effect.

Here's why: Speed in detection and speed in takedown both take technology, staff, and expertise - in other words, investment and lots of it. This is evidenced by comparing the best commercial offerings against exactly the type of "cooperative efforts" you highlight, such as Phishtank. These efforts, while laudable, are, when compared head-to-head with purpose-built systems, terrible performers on both volume and timeliness of discovery. If they weren't, companies like ours would not be securing large-dollar contracts for timely, accurate and comprehensive detection. The market would simply say "you're no faster or better than phishtank."

As a matter of fiduciary responsibility, this huge commitment of our investors' capital is to produce an ROI. By "demanding" that capable companies give away data to their feebler competitors, you only incent the competent players to exit the market. Those with flexible technology and smart people will simply devote their staff, budget and expertise to other products where they are not being told to give away the value they have worked so hard to create. Only the companies with weak detection capabilities could applaud such an idea.

This is not theory. I have personally devoted much of the last two years developing exactly the detection systems we're discussing. Yet if this prescription were followed, I would be the first one recommending to our Board of Directors that we exit this market and spend our time (and their money) more productively on another product.

The banks that rely on these providers will thus be left with only the least efficient, least competent vendors to choose from, and the performance and protection offered will suffer, not improve.

For a more complete explanation of this differing opinion, including a discussion of why the A/V industry is not in fact a proper analog for this suggestion, please see the link below.

A Contrary Perspective ?? Forced Data Sharing Will Decrease Performance and Reduce Protection
http://www.cyveillanceblog.com

Respectfully,
Eric Olson - Vice President, Cyveillance, Inc.

Posted by: ericolson   Posted on: 10/24/08 You are currently: a Guest | Members login | Terms of Use

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