Yahoo Working with eBay and PayPal to Protect Members from Phishing Emails

Yahoo Inc. announced that it is working with eBay Inc. to prevent phishing emails from reaching Yahoo mail recipients:

Yahoo Inc, is working with auction leader eBay Inc and its PayPal payments unit to block fake e-mails to users purporting to be from eBay and PayPal, hoping to spur on an industry that has been slow to fight the scourge of so-called phishing attacks.

EBay and PayPal have upgraded their computer systems to support an emerging technology standard known as DomainKeys invented by Yahoo that authenticates e-mail senders are who they say they are, allowing Yahoo to block fake e-mails.

he technology upgrade will be made available to Yahoo Mail users worldwide over the next several weeks, the company said.

“It is a big step forward for consumers in defence against the bad guys,” John Kremer, vice president of Yahoo Mail, said in a phone interview.

Along with banks and pharmaceutical makers, eBay and PayPal are among the brands most targeted by phishers seeking to trick consumers into divulging personal information such as credit card or password data in order to commit financial fraud.

Privacy Maven continues to recommend the helpful resources of the Anti-Phishing Working Group.

Also illuminating is this video showing real-time access of a PayPal phishing site and demonstrating how phishing scam victims unknowingy reveal their credit card and account access information.