The Anti-Phishing Working Group (APWG), which claims companies such as Panda Software as its members, has claimed that over 70 companies around the world were victims of Phishing attacks in July 2005. The bulk of the companies attacked were in the financial sector, and despite the monitoring efforts of groups like APWG and authorities trying to shut down phishing sites, most of the recorded sites managed to remain online for around six days. "Don't make the mistake of underestimating the importance of the phenomenon of phishing in companies," explains Luis Corrons, Director of PandaLabs. "An incident of this type can seriously damage companies; resulting in loss of client confidence, as well as the consequences of falling victim to this type of attack." Panda Software's current corporate solutions offer Anti-phishing and anti-pharming protection.