Phishregistry - free service to monitor your site

Heard via the Bankers Online Anti-phishing blog, that CipherTrust is offering a free service called PhishRegistry to monitor if your website is being duplicated.

According to the site:

"PhishRegistry.org monitors the content of your Website and alerts you when attempts to duplicate it have been detected. By registering your site on Phishregistry.org, you are able to receive notifications of online fraud attempts, and increase your Website’s visibility with CipherTrust and our anti-fraud partners."

The site asks you for the URLs to your home page, the login page and your logo.

The service was launched in March 2006, but I couldn't find more technical details of how the service works.