Kaspersky Lab is launching its new Kaspersky Fraud Prevention platform, designed to protect electronic payments on computers and mobile devices, the solution is aimed at banks, financial organisations and companies in the e-commerce sector.
According to a survey conducted by B2B International and Kaspersky Lab, 98 per cent of users use online banking services or make online purchases, and 38 per cent do so with their mobile devices. The widespread penetration of online payments has made the theft of electronic money a profitable business for criminals. The same study found that in the preceding 12-month period, 62 per cent of users had encountered cyber-threats that targeted their accounts.
Market requires innovative fraud prevention solutions
Current security techniques, such as temporary passwords, SMS confirmations, tokens, one-time password generators which are all used by banks and online payment systems to protect their clients quickly become obsolete. The experts at Gartner note that “innovation in fraud prevention methods is imperative because thieves are increasingly circumventing old techniques, such as device identification.”[1] This is why the market requires innovative solutions to ensure transactions are safe.
“Financial organisations need technology that protects their clients from today’s threats and minimises the costs linked to reimbursing stolen money,” commented Nikolay Grebennikov, Chief Technology Officer at Kaspersky Lab. “The Kaspersky Fraud Prevention platform is notable in that it provides comprehensive protection of transactions not only from the bank’s side but on the user’s devices as well. It also includes intellectual services based on our many years of experience in the field of cybersecurity. This combination will help financial companies secure their money and, more importantly, their reputation.”
Kaspersky Lab’s advanced security solutions for financial transactions have already established a good reputation on the market – the independent test labs AV-TEST, MRG Effitas and Matousec have already recognised their effectiveness.
Comprehensive platform approach to protect online payments
The new Kaspersky Fraud Prevention platform incorporates tools capable of protecting online transactions on various devices and operating systems, server solutions for detecting fraudulent transactions during online payment processing, plus a range of additional services. The individual platform components can function both independently and in collaboration, complementing each other and providing multi-layered protection at every stage of an online payment.
Protection at the bank customer’s endpoint
Kaspersky Fraud Prevention for Endpoints can be easily downloaded onto a bank customer’s computer or mobile device – to provide multi-faceted security for both computer-based and mobile-based transactions. With support for Windows, Mac, iOS and Android, Kaspersky Fraud Prevention for Endpoints delivers easy-to-use protection to one of the most vulnerable elements in any online financial transaction – the customer’s endpoint.
Customised mobile app protection
Kaspersky Fraud Prevention SDK (Software Development Kit) provides protection technologies that banks can configure and integrate within their existing, own-branded mobile security solution. It can also be included in new, yet to be developed mobile apps. Kaspersky Fraud Prevention SDK is a highly effective way of enhancing a bank’s endpoint protection for users – by enabling the addition of Kaspersky Lab protection technologies for iOS and Android devices.
Anti-fraud protection within the bank’s security perimeter
The server component of the Kaspersky Fraud Prevention Clientless Engine platform operates within the company’s IT infrastructure and can detect and prevent fraudulent transactions even if the user’s device has no security solution installed. To evaluate the legitimacy of an operation, Kaspersky Fraud Prevention Clientless Engine checks information about the payment and the device where it originated in real time, detecting suspicious anomalies and attempted cyber-attacks. If unusual behavior is detected, Kaspersky Fraud Prevention Clientless Engine can automatically block the transaction or a company employee can quickly react to prevent any theft.
The benefits provided by Kaspersky Fraud Prevention are complemented by a range of additional services that Kaspersky Lab offers to help companies improve their awareness of financial cyber-threats and how best to combat them. It also brings exclusive access to the extensive knowledge of Kaspersky Lab’s experts and dedicated support from the company.
[1] Gartner, Magic Quadrant for Web Fraud Detection, Avivah Litan, Peter Firstbrook, May 30, 2013
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