Entrust Co-authors Open Standard to Create Industry’s First Collaborative Fraud Intelligence Network

IETF based standard allows organizations to share and leverage key fraud patterns and better protect consumers

25 Oct 2006

DALLAS -  When fraudsters develop a new pattern for perpetrating crime, they typically will move like locust from one organization to another using their new pattern to exploit and wreak havoc on as many organizations as possible. That is why industry leaders have submitted recommendations for a creation of a collaborative fraud intelligence network that is both vendor-neutral and gives member companies the ability to download or submit new fraud patterns to create a shared trust network.

"The sharing of new fraud patterns should not be a luxury for the privileged few who can afford to subscribe to proprietary fraud networks," said Entrust Chief Strategist Peter Relan. "Because this collaborative fraud network will help protect consumers' money and personal information, it is too valuable not to make available to the financial institutions that are trusted to keep that information secure."

The effort is being spearheaded by Entrust, Inc. [NASDAQ: ENTU], a world leader in securing digital identities and information and VeriSign, Inc., the leading provider of intelligent infrastructure services for Internet and telecommunications networks. The two companies have jointly submitted the proposal for the standard to the Internet Engineering Task Force (IETF). The IETF is a large open international community of network designers, operators, vendors, and researchers concerned with the evolution of the Internet architecture and the smooth operation of the Internet.

The internet draft of the submission can be viewed at http://www.ietf.org/internet-drafts/draft-mraihi-inch-thraud-01.txt.