Prior to implementing Symantec’s online fraud management system, First Horizon had to engage its entire critical incident response team to manually troubleshoot online threats. Symantec has automated the process of detecting and blocking online phishing for the bank and its customers.
In addition, First Horizon’s IT staff had focused on protecting customers’ financial information as it resided in the firm’s environment. The bank determined that it needed to protect customers’ personal computers as well as its own network.
Symantec says its system automatically blocks fraudulent emails from reaching the bank’s customers and immediately notifies the company of the attack. At the same time, it provides customer education, customer desktop security assessment, and customer protection technologies that guard the consumer as well as the enterprise network.
Symantec has made it possible to reduce phishing attacks on a scale of five million emails down to a few hundred that actually reach customers, claims Christopher Leach, chief risk officer at First Horizon.
