New Defenses Against Cyber Attacks on Bank Accounts - Entrust Unveils Trio of Solutions
Poster: SySAdmin
Posted on April 21, 2010 at 7:14:01 AM
New Defenses Against Cyber Attacks on Bank Accounts - Entrust Unveils Trio of Solutions
DALLAS, April 21 -- Entrust, Inc., a global leader in securing digital identities and information, has intensified defenses against growing cyber attacks that siphon funds from small business, enterprise and individual banking transactions. The Texas based firm that provides security solutions for US passports, Homeland Security documents and similar products for 2,000 organizations in 60 nations, will this week introduce a triple threat package of highly deployable and effective capabilities for thwarting the diverse attacks that are growing exponentially in the financial world.
"We are in an arms race with sophisticated, high tech enemies who are now concentrating on smaller business bank accounts in addition to their continued efforts to steal from large corporations," Bill Conner, CEO and President of Entrust said.
The highly regarded recent Gartner Report "Where Strong Authentication Fails and What You Can Do About It" concluded that bank accounts need to be protected "using a three-prong fraud prevention approach that employs authentication, fraud detection, and out-of-band transaction verification and signing for high-risk transactions." Entrust has emerged as the first and only provider in the market to offer those three optional solutions including a new authentication for the growing use of smart phone banking.
FBI statistics identify half a billion dollars annually in online fraud with growing tens of millions of dollars in losses each year from attacks on corporate and small business banking.
TowerGroup is a trusted research and advisory service that focuses on the global financial industry. Senior research director George Tubin has said "Financial institutions that are early to market with customer-oriented solutions will be viewed favorably by an increasingly skeptical and vulnerable customer base."
"The key is to customize the defense against the anticipated attack by monitoring, detecting and thwarting suspicious activity. Unfortunately, the use of patches in antivirus software and other traditional safeguards are just not enough in the current environment and too many businesses and consumers are not aware of the dangers. Our new three option combination will provide the most flexible and consistent defenses for banking transactions of all sizes," Conner concluded.
About Entrust
Entrust provides identity-based security solutions that empower enterprises, consumers, citizens and Web sites in more than 4,000 organizations spanning 60 countries. Entrust's identity-based approach offers the right balance between affordability, expertise and service. For strong authentication, fraud detection, digital certificates, SSL and PKI, call 888-690-2424, e-mail entrust@entrust.com or visit http://www.entrust.com.
Entrust is a registered trademark of Entrust, Inc. in the United States and certain other countries. In Canada, Entrust is a registered trademark of Entrust Limited. All Entrust product names are trademarks or registered trademarks of Entrust, Inc. or Entrust Limited. All other company and product names are trademarks or registered trademarks of their respective owners.
Photo: http://www.newscom.com/cgi-bin/prnh/20060720/NYTH074LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com /
Source: Entrust, Inc.
CONTACT: Lindsey Jones, Media Relations of Entrust, Inc.,
+1-972-728-0374, lindsey.jones@entrust.com
Web Site: http://www.entrust.com/
DALLAS, April 21 -- Entrust, Inc., a global leader in securing digital identities and information, has intensified defenses against growing cyber attacks that siphon funds from small business, enterprise and individual banking transactions. The Texas based firm that provides security solutions for US passports, Homeland Security documents and similar products for 2,000 organizations in 60 nations, will this week introduce a triple threat package of highly deployable and effective capabilities for thwarting the diverse attacks that are growing exponentially in the financial world.
"We are in an arms race with sophisticated, high tech enemies who are now concentrating on smaller business bank accounts in addition to their continued efforts to steal from large corporations," Bill Conner, CEO and President of Entrust said.
The highly regarded recent Gartner Report "Where Strong Authentication Fails and What You Can Do About It" concluded that bank accounts need to be protected "using a three-prong fraud prevention approach that employs authentication, fraud detection, and out-of-band transaction verification and signing for high-risk transactions." Entrust has emerged as the first and only provider in the market to offer those three optional solutions including a new authentication for the growing use of smart phone banking.
FBI statistics identify half a billion dollars annually in online fraud with growing tens of millions of dollars in losses each year from attacks on corporate and small business banking.
TowerGroup is a trusted research and advisory service that focuses on the global financial industry. Senior research director George Tubin has said "Financial institutions that are early to market with customer-oriented solutions will be viewed favorably by an increasingly skeptical and vulnerable customer base."
"The key is to customize the defense against the anticipated attack by monitoring, detecting and thwarting suspicious activity. Unfortunately, the use of patches in antivirus software and other traditional safeguards are just not enough in the current environment and too many businesses and consumers are not aware of the dangers. Our new three option combination will provide the most flexible and consistent defenses for banking transactions of all sizes," Conner concluded.
About Entrust
Entrust provides identity-based security solutions that empower enterprises, consumers, citizens and Web sites in more than 4,000 organizations spanning 60 countries. Entrust's identity-based approach offers the right balance between affordability, expertise and service. For strong authentication, fraud detection, digital certificates, SSL and PKI, call 888-690-2424, e-mail entrust@entrust.com or visit http://www.entrust.com.
Entrust is a registered trademark of Entrust, Inc. in the United States and certain other countries. In Canada, Entrust is a registered trademark of Entrust Limited. All Entrust product names are trademarks or registered trademarks of Entrust, Inc. or Entrust Limited. All other company and product names are trademarks or registered trademarks of their respective owners.
Photo: http://www.newscom.com/cgi-bin/prnh/20060720/NYTH074LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com /
Source: Entrust, Inc.
CONTACT: Lindsey Jones, Media Relations of Entrust, Inc.,
+1-972-728-0374, lindsey.jones@entrust.com
Web Site: http://www.entrust.com/