Kaspersky Labs To Fight Online Fraud With New Product Suite

Russian cybersecurity specialist Kaspersky Labs has launched a new suite of tools to ensure the safety of online payment transactions on computers and mobile devices.

The server-side Kaspersky Fraud Prevention platform is aimed at banks, financial organisations and companies in the e-commerce sector.

“It provides comprehensive protection of transactions not only from the bank’s side but on the user’s devices as well,” explained Nikolay Grebennikov, CTO at Kaspersky Labs. “It also includes intellectual services based on our many years of experience in the field of cybersecurity. This combination will help financial companies secure their money and, more importantly, their reputation.”

End-to-end

According to a recent survey by Kaspersky and B2B International conducted across 19 countries, 98 percent of people with access to the Internet use it for financial transactions, for example online banking or shopping.

At the same time, 34 percent of respondents admit that they take no security precautions while connecting through public Wi-Fi, and 62 percent say they have experienced at least one incident where there was an attempt to steal their financial information.

The company says that current security techniques, such as temporary passwords and two-factor authentication, do not provide end-to-end defence against cybercriminals and quickly become obsolete.

The Fraud Prevention platform includes tools capable of protecting online transactions on devices running Windows, Mac OS, iOS and Android, as well as server-side solutions for detecting fraud during online payment processing.

The server component of the Kaspersky Fraud Prevention Clientless Engine platform was designed to operate within the company’s existing IT infrastructure. It can stop suspicious transactions without the need for any software on the client device. This gives businesses the ability to watch over the security of their users, even if the users themselves are regularly putting themselves in danger.

Kaspersky Fraud Prevention also offers a mobile Software Development Kit (SDK) that financial institutions can integrate within their existing mobile security solutions, or build into new apps.

Last month, the charismatic leader of the company Eugene Kaspersky was in London to christen a new European headquarters.

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Max Smolaks

Max 'Beast from the East' Smolaks covers open source, public sector, startups and technology of the future at TechWeekEurope. If you find him looking lost on the streets of London, feed him coffee and sugar.

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