Monster Worldwide Announces Comprehensive Steps to Protect All of Its Job Seekers from Online Fraud

Monster Worldwide (NASDAQ: MNST) announced today that it is proactively notifying all job seekers with an active resume on Monster sites about preventative measures they can take to protect themselves from online fraud. Additionally, the Company has announced it will institute a comprehensive set of new systems and processes designed to enhance existing security and minimize such threats in the future.

As recently reported, Monster became aware of illegal activity that involved the downloading of information such as names, addresses, phone numbers, and email addresses for 1.3 million job seekers with resumes posted on Monster.com. Monster does not generally collect social security numbers or financial data about its job seekers, such as bank account information or credit card accounts. Monster responded by conducting a comprehensive review of internal processes and procedures, and notified these job seekers that their contact records had been downloaded illegally. In addition, the Company is working with law enforcement officials and the appropriate regulatory agencies.

The Company has determined that this was not an isolated incident. As is the case with many companies that maintain large databases of information, Monster is from time to time subject to illegal attempts to extract information from its database. Despite ongoing analysis, the scope of this illegal activity is impossible to pinpoint. Monster believes illegally downloaded contact information may be used to lure job seekers into opening a “phishing” email that attempts to acquire sensitive financial information. This has been the case in similar attacks on other Web sites.

To enhance the security of the job seekers on its site, Monster is proactively reaching out to all users who have resumes posted to inform them about preventative measures they can take to protect themselves from online fraud. While no company can completely prevent unauthorized access to data, Monster believes that by reaching out to users, the company can help users better defend themselves against those who have attacked Monster as well as other databases.

“Protecting the job seekers who use our Web site is a top priority at Monster,” said Sal Iannuzzi, Chairman and CEO of Monster Worldwide. “These issues are increasingly prevalent throughout the Internet, which is why Monster is enhancing its security and reaching out to everyone with an active resume on our site. We believe these actions are the responsible steps to protect our valued job seekers and customers.”

Monster also launched a series of initiatives it is taking to enhance security controls for its Web site. These initiatives are part of the infrastructure improvements that were announced by Monster before the recently reported attack. The initiatives include:
Implementing new robust capabilities for worldwide monitoring and surveillance of site traffic
Reviewing and tightening all site access policies and controls
Launching a series of targeted initiatives to protect job seeker contact information

In addition, the Company has augmented its Web Site Security Task Force by adding executive level staff, and going forward the task force will report directly to the Chairman and CEO. The Company has also engaged several industry security experts with proven track records of successfully working with global Internet companies to protect their users.

Finally, Monster is committed to maintaining an ongoing dialogue with its job seekers and customers about Internet security and the steps it is taking to protect its users. The Company has placed a security alert on the Monster.com site that offers an abundance of information to educate users about online fraud and the measures they can take to protect themselves. This information can be found at http://help.monster.com/besafe/.

About Monster Worldwide

Monster Worldwide, Inc. (NASDAQ: MNST), parent company of Monster®, the premier global online employment solution for more than a decade, strives to bring people together to advance their lives. With a local presence in key markets in North America, Europe, and Asia, Monster works for everyone by connecting employers with quality job seekers at all levels and by providing personalized career advice to consumers globally. Through online media sites and services, Monster delivers vast, highly targeted audiences to advertisers. Monster Worldwide is a member of the S&P 500 Index and the NASDAQ 100. To learn more about Monster’s industry-leading products and services, visit www.monster.com. More information about Monster Worldwide is available at www.monsterworldwide.com.

Special Note: Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the statements made in this release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties, including statements regarding Monster Worldwide, Inc.’s strategic direction, prospects and future results. Certain factors, including factors outside of Monster Worldwide’s control, may cause actual results to differ materially from those contained in the forward-looking statements, including economic and other conditions in the markets in which Monster Worldwide operates, risks associated with acquisitions, competition, seasonality and the other risks discussed in Monster Worldwide’s Form 10-K and other filings made with the Securities and Exchange Commission.

Contacts

Monster Worldwide
Investors: Robert Jones, 212-351-7032
bob.jones@monsterworldwide.com
or
Media: Kathryn Burns, 212-351-7063
kathryn.burns@monsterworldwide.com
or
Steve Sylven, 978-461-8503
steve.sylven@monster.com

Popularity: 11% [?]