Cyota, a vendor of anti-fraud software is reporting a 633% increase in attacks against small banks and credit unions in the U.S.

The announcement comes as The Pennsylvania State Employees Credit Union (PSECU) implements Cyota's FraudAction software. The tool is supposed to help prevent phishing, pharming and online fraud in general.

According to Cyota, a wave of attacks directed against credit unions, small and medium banks started in 2005. Its Anti-Fraud Command Center recorded the massive leap since then.

PSECU has a very large online community - more than half of our members have signed up for online account access, and about 12 percent of all members actively use online bill payment, so we are committed to maintaining, growing and protecting our online users, said Kevin Doyle, Information Security Officer at PSECU. "When looking for an anti-phishing service, it was important for us to find an experienced provider with a proven service that would evolve to meet new threats and protect our members. Cyota's FraudAction gives us the same world-class protection that global banks have, while understanding and respecting the distinct needs of our credit union and members."

PSECU is also making use of Cyota's new anti-pharming functionality built into FraudAction.

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