The increasing prevalence of phishing had become a major concern for financial services companies, particularly those with major investments in online banking. Primarily, they were concerned that phishing might potentially draw customers away from online banking for fear of the security risks. A secondary concern related to compensation. Banks faced liabilities when a customer became the victim of a phishing attack. Although the inaugural APWG meeting was closed to the media, Hotwire conducted a series of briefings with key business, IT, national print and broadcast media in parallel, highlighting these issues with David Brunswick fronting the media tour.
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