Industry veterans deliver 40 minutes of expert advice on how best to
defend against online fraud
DALLAS, June 29 /CNW/ -- As online fraud continues to rise and financial
institutions lose hundreds of millions of dollars to criminal groups,
organizations seek guidance on how best to defend against targeted online
attacks. In response, Entrust offers a special webcast, featuring leading
analyst research firm Gartner, to help answer today's toughest questions that
directly impact the continuous fight against online fraud.
"No matter the investment, it's critical for experts to help inform other
organizations on the necessity of implementing both strong authentication and
fraud detection solutions to help stop the alarming growth of online fraud and
other eCrime," said Entrust Director of Identity Products Steve Neville. "With
our experience and knowledge, we really felt it was our duty to provide much
needed guidance for security-conscious financial services organizations."
The webcast, titled "Fast & the Fraudulent: Actions Financial
Institutions Can Take to Defeat Online Fraud," features 40 minutes of expert
opinion on current industry best methods to help defend against online fraud,
specific to global banks and financial institutions. Hosted by Entrust,
featuring Gartner vice president Avivah Litan and Entrust director Steve
Neville, the webcast takes on key issues and questions, and offers strategic
guidance on how to address today's top security concerns.
According to the Anti-Phishing Working Group (APWG), financial
institutions and payment services companies make up 85 percent of the
organizations targeted by online criminal groups.(1) This further highlights
the critical need for online organizations to implement comprehensive fraud
detection and strong authentication solutions that are affordable, simple for
end-users and versatile enough to adapt as fraud threats evolve.
In February, Entrust was positioned as one of the "leaders" in the
Gartner Magic Quadrant for Web Fraud Detection. Available as a complementary
resource from Entrust, the Gartner Magic Quadrant for Web Fraud Detection
evaluated vendors and placed them in one of four quadrants -- leaders,
visionaries, challengers and niche players. The report states that "most large
and some midsize financial institutions continue to upgrade their
first-generation Web fraud detection systems that they put in place in 2006
and 2007, because installed software and services fall short in evaluating
"Enterprises should evaluate competitors based on their core fraud
detection technology and their ability to properly service implementations
after the sale," said Gartner vice president Avivah Litan in the February 2009
Magic Quadrant for Web Fraud Detection. "Innovation is critical in this market
to keep pace with difficult-to-predict cyberattacks that increasingly navigate
across multiple customer service channels and the Web."
In the April 2009 "Highlights from the Gartner European Identity and
Access Management Summit," Litan recommended that organizations "protect data
and accounts from unauthorized access using a layered security approach that
includes stronger user authentication, continuous fraud detection and
out-of-band transaction verification."(3)
Leading financial institutions, enterprises and government agencies have
deployed the complete security platform, including DnB Nor, Expedia, Commerce
Bank, Bank of New Zealand, Banco Santander Santiago, Goteborg University,
Ministry of Economic Development of New Zealand, SCHUFA, Arbetsformedligen,
Alaska Law Enforcement Information Sharing System, Vejle Amt, Aristex, Swedish
National Labor Market Administration, Skanska and more.
You can watch the webcast, "Fast & the Fraudulent: Actions Financial
Institutions Can Take to Defeat Online Fraud," by visiting
Entrust TransactionGuard is a zero-touch fraud detection solution that
captures all the data in a session and does not require integration with
back-end applications. It transparently monitors user behavior to identify
anomalies, and then calculates the risk associated with a particular
transaction -- all seamlessly and in real time. Unlike competitive offerings,
Entrust TransactionGuard can analyze all points of interaction with the user
on the Web site, allowing organizations to gain a complete picture of
potentially fraudulent behavior without ever changing sophisticated banking
Entrust IdentityGuard enables organizations to layer security --
according to access requirements or the risk of a given transaction -- across
diverse users and applications. The platform's authentication options include
strong username and password, IP-geolocation, device, questions and answers,
out-of-band one-time passcode (delivered via voice, SMS or e-mail), grid
cards, eGrid cards and a range of one-time-password tokens. Entrust
IdentityGuard also provides multiple methods of supporting mutual
authentication, including picture and caption replay.
Entrust provides trusted solutions that secure digital identities and
information for enterprises and governments in 2,000 organizations spanning 60
countries. Offering trusted security for less, Entrust solutions represent the
right balance between affordability, expertise and service. These include SSL,
strong authentication, fraud detection, digital certificates and PKI. For
information, call 888-690-2424, e-mail firstname.lastname@example.org or visit
About the Magic Quadrant
The Gartner Magic Quadrant is copyrighted February 6, 2009, by Gartner,
Inc., and is reused with permission. The Magic Quadrant is a graphical
representation of a marketplace at and for a specific time period. It depicts
Gartner's analysis of how certain vendors measure against criteria for that
marketplace, as defined by Gartner. Gartner does not endorse any vendor,
product or service depicted in the Magic Quadrant, and does not advise
technology users to select only those vendors placed in the "Leaders"
quadrant. The Magic Quadrant is intended solely as a research tool, and is not
meant to be a specific guide to action. Gartner disclaims all warranties,
express or implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
(1) "Magic Quadrant for Web Fraud Detection," Avivah Litan, Gartner,
Inc., February 6, 2009.
(2) "Trends Activity Report," Anti-Phishing Working Group, March 2009.
(3) "Highlights from the Gartner European Identity and Access Management
Summit," Ray Wagner & Ant Allan, Gartner, Inc., April 17, 2009.
Entrust is a registered trademark of Entrust, Inc. in the United States
and certain other countries. In Canada, Entrust is a registered trademark of
Entrust Limited. All Entrust product names are trademarks or registered
trademarks of Entrust, Inc. or Entrust Limited. All other company and product
names are trademarks or registered trademarks of their respective owners.
For further information:
For further information: Lindsey Jones, Media Relations of Entrust,
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