With the Internet being so wide-open, investing in regulating all the hokey emails would turn in to a wild goose chase, with little results. I think if a company invests enough efforts in to building and maintaining their image, then consumers will be able to recognize that the phishing and spam is coming through a 3rd party channel and not let it tarnish their perception of the brand at all.

So in essence, brand management on the home-front is even more essential in preserving the brand’s image with the emergence of phishing and spamming. 

Brands are tarnishing their images and losing brand equity as a result of SPAM. Consumers will most definitely become annoyed and directly associate this with the brand in question. 

Now Smash...now there's a completely different story. Give me aliens and fluffy white potato packets anyday.  

I also feel that too many claims are being made for the sales and promotional efficacy of the Internet (by vested interests mainly) whilst many people's experience remains highly negative. Phishing HAS affected how we view the security of the system. Maybe we should remember that originally the Internet idea was as an Information Superhighway. This is still where it scores over anything else.

However I fear this estimable ideal has been hi-jacked -- but probably that was inevitable.

But e-Bay and amazon have proved that you CAN build a reputable brand on the Internet -- but how many others are there -- and how many will spend the time, effort and money to do it? At best I think the internet will be remain a supportive role to other media, despite the claims being made. Providing information supportive to the main thrust of the branding function and the system works, 'Your on-line brochure' is how I have always regarded it.