TrustDefender Ensures Safety of Online Business and Helps to Secure the Future of E-Commerce With New Security and Fraud Risk Management Solutions

TrustDefender Zero, Central Intelligence Server and Pro identify and stop fraudulent activity before it happens using the world’s first combination of tagless device and page fingerprinting technology.

TrustDefender, a leading security and fraud risk management company, has launched a range of solutions designed to protect organisations from online fraudulent activity by allowing them to identify potential threats before it happens. With the recent Epsilon data breach, affecting companies including Marks and Spencer and Mothercare, showing how widespread, damaging and costly security vulnerabilities can be, companies and government need to take all possible precautions to ensure protection for themselves and their customers before the next crisis hits.

Cyber crime, previously the domain of the financial services sector, is now a major threat to all governments, enterprises and everyone who transacts online. According to statistics from the recently released government report “The Cost of Cyber Crime”, the total annual cost to the UK economy is £27bn with £21bn of that cost attributed to UK businesses. The cost to UK citizens is estimated at £3.1bn which includes £1.8bn lost to identity theft and a £1.4bn to online scams. The government is also estimated to lose £2.2bn a year to cyber crime.

The UK Cards Association and Financial Fraud Action UK, both part of the UK Payments Administration estimate that £46.7m was stolen via online banking in 2010. While this is a reduction from previous years when we look outside the banking industry a report from Cybersource in the UK found that online fraud is rated as the biggest business threat amongst merchants with 1.9% of 2010 orders accepted by online merchants resulting in fraud, compared with 1.6% the previous year.

These issues impact businesses and individuals in every region around the world. In Australia more than 5.8 million citizens were exposed to a range of identity theft and Internet scams resulting in a combined loss of almost AU$1 billion (according to the Australian Bureau of Statistics, 2009-10 year book). In North America, according to statistics from the Federal Bureau of Investigation (FBI), 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.

TrustDefender’s new product offerings include:

1. TrustDefender Zero

• The world’s first combination of tagless device and page fingerprinting techniques that does not require users to download software on the end-user device.
• Instantly detects if a customer’s personal details have been stolen and are being used
• Instantly detects 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
• TDz is ideal for the growing number of organisations looking to secure computers connecting remotely to their website via home PCs, notebooks, tablets, smartphones, game consoles, set-top boxes or via public and private cloud environments

2.  TrustDefender Central Intelligence Server

• Provides the next logical generation in the fraud risk space – namely the convergence of security and fraud risk management
• Enterprise server software that integrates into an organisation’s IT infrastructure and enables “instant decisioning” for all online-related security events that are invisible to most traditional end-user and enterprise security products
• Available immediately, TCIS is suited for any organisation or online business that requires instant global visibility into all computers and potential threats before those devices connect internally or remotely to a website or network

These new products, combined with enhancements to the company’s highly successful TrustDefender Pro (TDpro), 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 and governments, highlights the need to harden the defences of all organisations transacting online with customers. Having one or even a second  layer in your fight against these threats is no longer sufficient. We find organisations are taking a strategy that they need to apply multiple layers in both security and fraud risk management if they are to protect against the more sophisticated malicious threats. TrustDefender is the only integrated security and fraud risk management solution crossing many layers and providing for a comprehensive defence system against the threats. 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.” 

Andreas Baumhof, CTO and co-founder of TrustDefender, comments: “The fight against cybercrime 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-InThe-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.”

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