SafeNet, a global data protection services provider, has launched a new identity and transaction protection service, dubbed the eToken 3500.

The newly introduced tool addresses multiple levels of risk associated with online banking and trading transactions and is an electronic signing and authentication token-based device which will allow financial services organizations to prevent fraud when performing e-banking applications.

The SafeNet eToken 3500 features an optical sensor to read financial transaction data from an internet browser, generating an electronic signature which validates each transaction, reducing threats such as Man-in-the-Browser (MitB) and Man-in-the-Middle (MitM), in which hackers steal legitimate user identities during a transaction and redirect funds. Additionally, the optical sensor is able to scan the transaction data automatically.

The eToken 3500 enables customers to generate an electronic signature for transactions, reduce fraud attacks from MitM and MitB threats and automatically scan encrypted transaction details.