Entrust President and CEO Bill Conner to Address Evolving Fraud Threats at Bank Forum
DALLAS, Nov. 18 /PRNewswire/ — 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.
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 www.entrust.com.
(1) “Phishing Activity Trends Report,” Anti-Phishing Working Group (APWG), July 2009.
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