New Solution Irrefutably Authenticates Devices; Detects, Prevents “Man-in-the-Browser” Fraud for Online Services
SAN FRANCISCO, Aug. 14, 2012 /PRNewswire/ – NetAuthority, the device-centric strong authentication provider, today announced its Device Authentication Engine, Device Authentication Service (DAS) and Transaction Verification Key (TVK) technology, a suite of strong device-centric data security products that irrefutably identify network-connected devices and prevent automated “man-in-the-browser” (MitB) injected transactions.
With these offerings, NetAuthority has tightly coupled its patented Dynamic Device Key (DDK) generation and authentication technologies with industry-proven security standards and a flexible, high performance SaaS-based authentication service to provide the industry’s first mass-scale device-centric strong authentication solution. The TVK transaction verification technology will be offered as an extension to the NetAuthority device authentication engine and service products.
Strong authentication is essential for preventing impersonation of stolen user names and passwords by irrefutably identifying the device and its association with the user. Transaction verification is a layered and equally essential solution that protects transactions from automated malware-based transaction fraud, which can occur after user authentication.
The NetAuthority device authentication engine and service are purpose-built for seamless, cost-effective mass adoption to address the ever-increasing security needs of the Internet-connected world. “Man-in-the-browser” malware has become a significant threat to online banking services, with new research reports estimating automated fraud attempts at over $2 billion resulting in nearly $100 million in losses from successful attacks. Furthermore, automated MitB malware like Zeus and SpyEye are expanding from online banking attacks to other areas of online fraud. MitB fraud cannot be reliably detected by antivirus solutions, and is impervious to traditional multi-factor authentication.
The new NetAuthority transaction verification key technology provides strong device-centric transaction verification aimed at detecting and preventing MitB attacks. With the addition of the TVK extension, NetAuthority provides the industry’s only strong authentication solution that incorporates independent transaction verification with zero day attack protection. Online service providers and financial institutions can now utilize NetAuthority’s patented device-centric strong authentication engine and service to verify online transactions, preventing MitB malware attacks without additional software or complexity.
Chris Brennan, CEO of NetAuthority, said:
“Unlike other forms of multi-factor authentication, the DAE and DAS are designed to facilitate widespread adoption of strong authentication that is both affordable and transparent to the end user. Our suite extends the freedom of mobility and user choice with exceptional authentication security measures; preventing user account breaches while helping financial institutions, consumer online services and SaaS-based cloud services providers protect their customers, information and assets.”
Derek Brink, vice president and research fellow for IT Security at Aberdeen Group, said:
“Solutions for authenticating users and transactions have always been a balance of user experience, strength of security and total cost – and the corresponding risks of user dissatisfaction, data loss and fraud and negative impact on corporate brands. The market trend has been towards solutions that are simple and transparent for end-users, while offering higher levels of protection against online fraud.”
- Device-centric multi-factor strong authentication and verification is both affordable and transparent to the end-user.
- The TVK detects and prevents automated MitB attacks, providing zero day protection from financial fraud while enabling the discovery of malware-infected devices.
- Multi-dimensional Dynamic Device Key (DDK) generation provides a unique device identifier for each session, eliminating the vulnerabilities of static identifiers such as digital certificates or security cookies.
- NetAuthority offers support for Windows, Mac and Linux end-user devices.
- Administrators can set flexible internal access protocols with fully-enabled white- and black-listing.
NetAuthority is the strong device-centric authentication solution provider. NetAuthority’s patent-protected technology uniquely identifies and authenticates internet-enabled devices to thwart cyber security attacks, delivering compelling ROI for enterprise, government and other data-sensitive environments. For more information, visit www.NetAuthority.com.