TrustDefender enters next phase of growth...

Written by Michael Whiley Monday, 28 March 2011 10:25

 TrustDefender, a leading security and fraud risk management company, is building on its success of the last few years, making a series of announcements, including international growth, the launch of three new products and a partnership with online banking provider, The Systems Works Group (TSWG).

TrustDefender Zero (TDzero), is a fraud risk management solution and the world’s first combination of tagless device and page fingerprinting techniques without the need to download software on the end user device.TDz will instantly detect if a customer’s personal details have been stolen and are being used. TDz will also instantly detect if an organisation’s customers are being targeted by threats on their device. Trustdefender is the first organisation globally to provide businesses with this complete offering.

TrustDefender Central Intelligence Server (TCIS) will provide the next logical generation in the fraud risk space – namely the convergence of security and fraud risk management and is available immediately.

These new products, combined with enhancements to the company’s highly successful TrustDefender Pro (TDpro), will deliver the proactive detection technology needed to reduce the cost of online fraud for banks, Governments, cloud application providers, e-commerce providers and any merchant operating online.

“With the changing dynamic and sophistication of criminal activity in recent years, all online channels and online transactions are increasingly at risk from fraudulent activity,” said Ted Egan, CEO and Co-founder of TrustDefender. “This coupled with recent Advanced Persistent Threats (APT) involving clandestine breaches of major organisations, highlights the need to harden the defences of all organisations transacting online with customers. We believe the combination of TDpro, TDz and TCIS will enable our customers to continue to operate more efficiently in a safer environment.  Without it they’re opening themselves up to an increased threat.”

Previously the domain of the financial services sector, cybercrime is now a major threat to all enterprises and everyone who transact online.  In Australia, over 5.8 million Australians were exposed to a range of identity theft and internet scams resulting in a combined loss of almost one billion dollars (Australian Bureau of Statistics, 2009-10 Year book).  According to the United States Federal Bureau of Investigation in 2009, online banking fraud and unauthorised automated clearing house (ACH) transfers led to US$100 million in attempted losses from small and medium size businesses.  In addition, a report from Cybersource in the UK found that online fraud is rated as the biggest business threat amongst merchants.

Andreas Baumhof, CTO and Co-founder of TrustDefender comments: “The fight against cyber-crime hasn’t really seen a lot of innovation over the last 10 years. Online transactions are booming, ushering in a new era of cybercrime we simply cannot fight with “old” tools. Innovation is what drives us further and we’ve developed this combined device and page fingerprinting technology to complement our existing solutions and provide a multi-layered assault to detect the source of fraudulent activity before it even happens. The page fingerprinting protects against any Man-In-The-Browser trojan without the need for blacklists or signature updates and without the need for a download. The combined fraud risk management part integrates this into a holistic picture. Today’s malware is smart and just detecting a malware without the fraud risk component, worked yesterday, but won’t tomorrow.”

TrustDefender has also has secured a partnership with online banking application provider The System Works Group (TSWG) which will see TSWG securing their NetTeller™ online banking suite with the TrustDefender range of solutions.  This will ensure TWSG’s 880,000 plus users are protected to the highest degree.

“Having been in the online banking industry since its inception, security has always been front of mind at TSWG,” says Chris McCarthy, Sales Manager at TSWG. “By using TrustDefedner to secure the NetTeller™ session and monitor the threat levels, we believe we are keeping our clients at the forefront of defence against and increasingly sophisticated cyber-crime.”

About TrustDefender Zero and TrustDefender Central Intelligence Server

TrustDefender Zero (TDz) is a fraud risk management solution and the world’s first combination of tagless device and page fingerprinting techniques.  This technology combines malware detection (compromised device) with fraud risk management techniques such as compromised account detection, money mule, account mule detection, suspicious applications detection capabilities – all this without any software needing to be downloaded or present on an end user device. TDz operates across all computers ranging from PC, Mac, Tablet to Smartphones including Android, iPhone and even devices connecting to the web such as wii, Xbox and the set top box at home.

Information from TDz and TrustDefender Pro (TDpro), TrustDefender’s existing Internet security transaction solution, is fed into the new TrustDefender Central Intelligence Server (TCIS) to enable TrustDefender’s customers to stop  online attacks and fraudulent activity passively as well as actively before they occur.  TDpro is a one off download by end users and activates before any log in occurs.  It checks any site the user is accessing is legitimate and verifies the security health status of the end-user device in real-time.

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