Hackers Turn Their Attention to Online Brokerages.High-Profile Losses Accentuate the Need for Arcot Strong Authentication to Combat Identity Hijacking hijacking Crime of seizing possession or control of a vehicle from another by force or threat of force. Although by the late 20th century hijacking most frequently involved the seizure of an airplane and its forcible diversion to destinations chosen by the air pirates, when SUNNYVALE, Calif. -- Please replace the release dated November 8, 2006 with the following corrected version due to multiple revisions. The corrected release reads: HACKERS TURN THEIR ATTENTION TO ONLINE BROKERAGES High-Profile Losses Accentuate the Need for Arcot Strong Authentication to Combat Identity Hijacking Identity thieves are now targeting online brokerages with their sophisticated attacks, in addition to online banks. In July of this year, Man-in-the Middle attacks defeated security measures Noun 1. security measures - measures taken as a precaution against theft or espionage or sabotage etc.; "military security has been stepped up since the recent uprising" security once thought to be secure and caused financial institutions to rethink how to protect their online banking customers against these new internet See Web 2.0 and Internet2. attacks. Last month, hackers broke into customer accounts at large online brokerages in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and made unauthorized trades worth millions of dollars. These scams typically start with a hacker gaining access to username and password information through phishing and key stroke logging attacks. With the increase in consumer use of the internet for personal finance, how can Financial Institutions stay ahead of the hackers? In these and other cases, hackers were able to bypass multiple layers of security and gain access to their accounts. These attacks accentuate the need for all financial institutions, not just those regulated by FFIEC FFIEC Federal Financial Institutions Examination Council guidelines, to adopt a strong authentication solution to reduce online identity theft and fraud, enhance customer trust and protect their assets. To protect against these sophisticated attacks, financial institutions need an authentication solution that ensures the identity of both the user and the site on to which they are logging. This solution must prevent phishing, man-in-the-middle, keystroke logger A program or hardware device that captures every key depression on the computer. Also known as "Keystroke Cops," they are used to monitor an employee's activities by recording every keystroke the user makes, including typos, backspacing and retyping. and other internet attacks while providing a simple authentication experience for their customers, employees, and partners. Arcot Systems offers the only multi-factor software authentication solution that prevents phishing, man-in-the middle, keystroke logging Keystroke logging (often called keylogging) is a diagnostic tool used in software development that captures the user's keystrokes. It can be useful to determine sources of error in computer systems and is sometimes used to measure employee productivity on certain clerical , trojans and other internet threats. Arcot provides multiple layers of protection -- authentication risk management, strong, two-factor authentication and digital signing capabilities -- using standard PKI (Public Key Infrastructure) A framework for creating a secure method for exchanging information based on public key cryptography. The foundation of a PKI is the certificate authority (CA), which issues digital certificates that authenticate the identity of technology. The company's offerings are compliant with U.S. and international standards including 3-D Secure, IdenTrust, SAFE and FFIEC Internet Banking Authentication recommendations. Its unique technology currently protects over 20 million online users. To learn more about the Arcot solutions visit the Arcot Systems website at www.arcot.com. |
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