CAVALI ICLV, Securities Exchange Depository of Peru, Selects Bharosa Multifactor Online Authentication Solution

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Agreement extends Bharosa FFIEC Compliant Solution, licensed to 2.2 million users in 61 countries, into Latin America.

Bharosa announced it has been selected by CAVALI ICLV S.A., the entity which clears and settles transactions for the Lima Stock Exchange, as a security provider for CAVALI’s online portals. CAVALI has selected Bharosa’s Virtual Authentication Devices™ as a means to enable secure, multifactor user authentication for its online systems.

“We are pleased CAVALI is among the financial institutions taking a proactive stance to upgrading their online security,” said Thomas Varghese, president and CTO for Bharosa. “CAVALI is moving rapidly, given the high volume and sensitive nature of transactions flowing through CAVALI’s online systems.”

More financial institutions are moving quickly to implement multifactor online security in the US and abroad, in response to a rising tide of online identity theft attacks such as Phishing, Trojans and Man-in-the-Middle. US banks are actively following recent guidance issued by the FFIEC calling for multifactor online authentication security by end of 2006. Bharosa solutions satisfy the FFIEC guidance with a highly secure solution ideally suited to the needs of large financial institutions.

More information regarding Bharosa’s capabilities for financial institutions in compliance with the FFIEC guidance is available at: http://www.bharosa.com/Bharosa_Multifactor_Data_Sheet.pdf

About Bharosa Virtual Authentication Devices

Bharosa Virtual Authentication Devices are simple graphical images which online account holders can use to authenticate their identity at login, much like the way they enter their PIN at the ATM. Yet what lies behind the graphical Device interfaces is far more sophisticated. Much of the power of Bharosa’s PinPad, KeyPad, QuizPad, CheckPad, Slider and Wheel Virtual Devices lies in what the user can’t see:

  •          One-time encrypted data sends and one-time visual experiences without keystrokes.
  •         Sophisticated fraud monitoring, analysis and tracking of each session -- by user location, time of day, type of transaction, device and more -- which is matched with each user’s behavioral profile helping detect possible fraud.
  •         Fluid, server-side infrastructure (no user downloads) deploys quickly and easily to any number of users, or different groups of users. Devices can be invoked in session for sensitive or “flagged” transactions. And they can sit at any customer touch point accessible via a browser -- including personal computers, mobile devices, public kiosks or ATMs.

About Bharosa

Bharosa, Inc. is a privately held company founded in May 2003 and headquartered in Santa Clara, California. Bharosa offers online security solutions to protect against the rising risks of Phishing, Trojan and Proxy-based fraud. Patent-pending Tracker and Authenticator products offer purely Web-based, multi-factor authentication and online fraud monitoring and detection. More information about Bharosa is available at http://www.bharosa.com.

Press Contact:

L. Harris

pr @ bharosa.com

(650) 291-3440

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L. Harris