Entrust President and CEO Bill Conner to Address Evolving Fraud Threats at Bank Forum
By Entrust, PRNETuesday, November 17, 2009
At BBS Paris 'Bank Forum,' layered security approach recommended to defend against malware
DALLAS, November 18 - As advanced malware and man-in-the-browser attacks continue to cause
havoc to online-banking channels in 2009, innovative solutions are available
to help curb online fraud losses and enhance consumer trust. During
Thursday's BBS Bank Forum in Paris, Entrust President and CEO Bill Conner
will outline why today's elite banks and financial institutions must
implement a strategic shift in policy to avoid being victimized in the new
threat landscape of 2009 and beyond.
"Today's sophisticated fraud groups can employ any number of attack
techniques - man-in-the-browser, keyloggers, DNS poisoning and more - to
exploit all channels of banking communication, not just online," said Conner.
"The goal is to implement a fundamental change to integrate the use of strong
authentication and zero-touch fraud detection solutions that can adapt
quickly and defend online fraud in real-time."
The BBS Paris Bank Forum will feature today's top executives from the
Nordic banking industry who will converge to discuss a range of topics,
including the impact of the financial crisis on the industry, card payment
systems and electronic security. BBS plays an active role in the development
of global banking standards and has led a number of workgroups at the
European Committee for Banking Standards (ECBS) and Mobey Forum on mobile
authentication, payments and financial services ecosystems.
Conner's presentation, "Evolution of Cybersecurity Threats for the
Banking Industry," will demonstrate how today's threat landscape is rapidly
changing to attack multiple access points, including online channels, mobile
applications, call centers and automated voice response (AVR) systems.
According to the Anti-Phishing Working Group (APWG), more than 49,000
phishing sites were detected in June 2009 alone. That's the second-highest
total on record since the organization was founded in 2003. The group's
first-half 2009 Phishing Activity Trends Report also found that 1,676 brands
were hijacked via phishing campaigns. A trend, according to APWG, that
signifies that online fraudsters are expanding the kind and numbers of brands
they target.(1)
Entrust currently provides security solutions to seven of the top-10
global financial institutions. Entrust IdentityGuard, combined with Entrust
TransactionGuard's real-time, zero-touch fraud detection capabilities,
provides a true integrated consumer authentication and fraud detection
solution for financial institutions.
Owned by Nordic banks, BBS is a leading provider of electronic security,
payment and information services. Established in 1972, BBS has successfully
delivered multitudes of efficient payment services of national critical
importance to Norway. In 2008, BBS had a turnover of NOK 1.7 billion.
Headquartered in Oslo, BBS has, after the acquisition of Sagem Denmark and
Sagem Manison Finland in June 2009, more than 1,000 employees in offices in
Norway, Sweden, Denmark and Finland.
About Entrust
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 +1-888-690-2424, e-mail entrust@entrust.com or visit
www.entrust.com.
(1) "Phishing Activity Trends Report," Anti-Phishing Working Group
(APWG), July 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.
Media Relations, Lindsey Jones of Entrust, +1-972-728-0374, lindsey.jones at entrust.com
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