The phishers are launching sophisticated attacks on less known (to the
X.509 CAs) financial institutions...

http://blog.washingtonpost.com/securityfix/2006/02/the_new_face_of_phishing_1.html

    ...
    This one -- targeting the tiny Mountain America credit union in Salt
    Lake City, Utah

    ...
    Geotrust's cert verification process is largely automated: when
    someone requests a cert for a particular site, the company sends an
    e-mail to the address included in the Web site's registrar records,
    along with a special code that the recipient needs to phone in to
    complete the process.

    ... [Geotrust] doubted that inserting a human into that process
    would have flagged the account as suspicious.

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