“We have not identified any one solution that will single-handedly eradicate phishing; nor do we believe one will ever exist. Instead, our approach relies on a holistic ‘defence in depth’ model, with each layer shaving off some percentage of crime that otherwise would have occurred,” said the report.
The company stated that it plans to warn users at first about their browsers being insecure, and then it plans to keep them at bay altogether:
"We are in the process of re-implementing controls which will first warn our customers when logging in to PayPal from those browsers that we consider unsafe. Later, we plan on blocking customers from accessing the site from the most unsafe – usually the oldest – browsers"
The first browsers on PayPal’s target list are Microsoft’s Internet Explorer 4 and 3. The company states that to continue to allow such browsers to access the site would be the equal “ to a car manufacturer allowing drivers to buy one of their vehicles without seatbelts”
Also, PayPal plans an agreement with web-hosted email servers, to ensure that only “digitally signed” emails from PayPal will make their way into inboxes, therefore leaving phishers and scammers out, at least for the time being.