A YouGov survey commissioned by VeriSign has revealed that at least 76 percent of Web users in India are at risk from online fraud because they are unable to identify the different forms of online phishing. Phishing scams and online frauds 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 - the study said.
"Phishing continues to be a major challenge for online retailers," said Andrew McClelland, director of business development at IMRG, a UK-based industry body. It only takes one phishing attack to dramatically reduce the Web browsing public's trust in a retailer. Once that trust is lost, it is very difficult to regain and with competition just a click away, something that retailers cannot afford to lose, said McClelland.
Security vendors and Internet browsers have joined forces to establish the Extended Validation (EV) standard for SSL Certificates. With this technology, the browser and the certificate authority control the display, making it difficult for phishers and counterfeiters to hijack a brand and its customers. Tim Callan, vice president of product marketing at VeriSign, said since most of the people in India are vulnerable to phishing scams, a method for easily identifying a genuine site from a phishing site is a must for all businesses online.
Callan said that by adopting EV, 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, he added.