While Phishing Attacks are Changing and Ever Increasing, TrustDefender Delivers the Online Fraud Solution to Businesses and Consumers

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“Online Trust is eroding as Online Businesses struggle to find the right answers for ever-changing attacks”

ANZ Banking Group was attacked by a “classical” Email Phishing Attack distributed via email on Feb 16, 2006. On the same day a Trojan whose sole purpose is to steal financial information from users is spreading in Australia by taking advantage of the WMF exploit. This worm is still active as of today and only a few Anti-Virus Engines currently detect it because it is not yet widespread on a worldwide scale.

While there are recent claims that “classical” Email Phishing Attacks are decreasing, everybody agrees that the more sophisticated Attacks using Worms, Trojans, Malware or other advanced techniques are rising dramatically. More and more attackers are hacking for financial gain and we are at the beginning of a new breed of online fraud attacks. But Online Businesses as well as Internet Banks fail to deliver a much needed solution (1). Home users are left alone in their Responsibility to care about the Security of their PC, their Internet Connection and much more – resulting in decreasing customer confidence for all online businesses. According to Gartner (2), "33% of online shoppers are buying fewer items due to concerns about online fraud" and a study of the Cyber Security Industry Alliance found that “48% of consumers are avoiding shopping online due to fears that that criminals might steal their personal financial information.”

While it is true that the Internet Banks constantly upgrade their security measures, one can argue whether this has any positive effect on the overall security chain. One example is the SSL Encryption, which is itself perfectly safe, but can be easily exploited in combination with an unsafe User PC. A second example is the online keypad technique. This provides only a countermeasure against first generation keyloggers. They are now simply replaced by more sophisticated malware and the countermeasure is rendered completely useless.

TrustDefender delivers a general solution to the problem by providing Trust in the Internet using its unique Technology which includes the GAP Protection, the Secure Policy Engine and the free community based TrustedSurfing Internet Database.

Alex Horst, Chief Security Architect explains that “The Value Proposition of the Internet Banks to be fool-proof, easy to use, highly secure and accessible anytime anywhere is being targeted by the drastically increasing number of sophisticated attacks we see. The only solution to this problem is to integrate the Home User’s Computer into the overall security chain. This way the user can be sure that he is connected to the correct server and the banks can be sure that the User’s Computer is safe and secure. The banks could then optionally enable additional security measures based on the Compliance of the Computer. This is exactly what TrustDefender is doing!”

(1)Silicon.com "Online banking 'not safe enough', says watchdog" http://www.silicon.com/publicsector/0,3800010403,39155848,00.htm
(2)http://www.internetretailer.com/dailyNews.asp?id=15329

Try TrustDefender today

TrustDefender invites you - and all Internet users - to try TrustDefender today. Available as a free download from http://www.trustdefender.com, TrustDefender is fast becoming the gold standard for Internet security!

For more detailed information, please read through the TrustDefender Whitepaper at http://www.trustdefender.com/whitepaper or view the live demonstration at http://www.trustdefender.com/movies/gap-securelockdown.htm.

Media Contact

Ted Egan

Ph: +61 419 666 305

Email: media@trustdefender.com

Web: http://www.trustdefender.com

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