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Online & Mobile Banking

Presidio Bank selects IronKey for e-banking fraud prevention

Wednesday 27 June 2012 | 09:18 AM CET

US-based financial institution Presidio Bank has selected US-based portable computing services provider IronKey for online banking fraud prevention.

The company will provide its clients with IronKey Trusted Access, a service which helps prevent identity theft, online account takeover and payments fraud. Trusted Access provides a web browser protected in a virtualized, read-only environment aimed at protecting online banking sessions from known and unknown crime ware.

Trusted Access is set to protect online banking sessions against various attacks, including man-in-browser attack, keylogging, network monitoring and DNS tampering. The platform provides multiple layers of security by integrating cloud-based network services and software which can be downloaded or run from a USB device.

According to research from SpyEye Tracker1, current anti-malware software fails to detect crime ware at least 75 percent of time. The Anti-Phishing Working Group (APWG) estimates that 39 percent of all computers are infected with financial malware designed to steal personal and account information. As a result, online banking account takeovers are growing at a rate of 150 percent each year, based on research published by FS-ISAC (Financial Services Information Sharing and Analysis Center).

Presidio Bank provides business banking services to small and mid-size businesses, including professional service firms, real estate developers and investors and not-for-profit organizations.
 

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