As an innovative and growing financial technology startup, LendingHome is concerned about email vulnerability to phishing attacks. Email is a key resource for the company, which has funded more than $1 billion in loans to date. The company has enabled homebuyers to finance more than 5,000 homes while returning $540 million to its investors.
LendingHome turned to Area 1 Security to protect the integrity of its email, realizing how phishing attacks opened the door to Business EmailCompromise (BEC) and other frauds. BEC allows a criminal gang to pose as a company officer and swindle users into forwarding company funds or confidential data. LendingHome knew that it was only a matter of time until the company became a target for spear-phishing emails. Worse, it could also be only a matter of time until one of those attacks succeeded.
LendingHome started with using Google’s Gmail system alone, believing that Gmail’s spam filter and rules would catch phishing emails in addition to spam. But that was far from true. Even the best spam filter is not engineered to recognize highly targeted phishing emails. So they decided to augment their efforts with Area 1 Security’s powerful preemptive capabilities, and keep phishing emails from arriving in employees’ inboxes.
“Even though Google spam filtering does an okay job, we now see plenty of malicious emails caught by Area 1 Security after passing through Gmail’s filters,” Donovan says. -Donovan, Senior DevOps Manager