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Vericept, a provider of enterprise risk management solutions, has launched a fraud and identity theft solution designed to help companies safeguard valued customer data, including Social Security numbers, credit card information and other personal information, from internal and external threats. Based on the Englewood, Colo.-based company's patented advanced linguistics engine, this product analyzes all content of inbound and out-bound Internet traffic using pre-defined categories, enabling companies to immediately identify and terminate any activity that falls outside of a company's pre-defined acceptable use policy, including the communication of confidential consumer information.

Corporations are increasingly at risk for business disruption and brand compromise through a growing gap in traditional security solutions. But, says Vericept, these solutions "focus on ensuring that only 'trusted' users, or those with permission to view particular information, have access to that information. However, traditional solutions fail to address the 'trusted gap' challenge--when the right people do the wrong thing with confidential information, whether intentionally or unintentionally."

As information related to fraud or identity theft is detected by the Vericept solution, companies receive a "snapshot" of the entire communications chain, including the address of where the information was sent, allowing security administrators to identity the recipient of the compromised information. For instance, if a disgruntled employee were to download a list of customer credit card numbers onto a spreadsheet and send the document to an unauthorized location, Vericept's application would capture and create a record of the event, which could later be used as evidence.

The product also provides structured data templates with pre-defined categories. These categories begin working right out of the box, the company says, eliminating the need for network administrators and human resource managers to manually create search categories.

Specific search strings may include:

* Personal file information

* Social Security numbers

* Credit card numbers

* Steganography (hiding data in another file, such as an image) and watermarking research.

To increase its ability to find inappropriate communications, Vericept's linguistics engine can also be customized to look for company-specific information, such as a project code name.

Vericept claims to have more than 600 customers, most concentrated among Fortune 2000 companies such as Target Stores and Tyco International.

For pricing information, contact Vericept Sales at 800.262.0274, or click on
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Title Annotation:Fighting Fraud
Publication:Financial Executive
Geographic Code:1USA
Date:Jun 1, 2004
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