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November 4, 2009updated 23 Aug 2016 3:01pm

Prevx combats online fraud with free service for banks

Even infected PCs are kept safe

By Janine Milne

UK security firm Prevx has launched a free service for banking, government and e-commerce websites that takes a fresh approach to combating online fraud.

Unlike traditional security software, which seeks to uncover threats, SafeOnline completely blocks the browser so that any threats, identified or unknown, are kept away from sensitive data. It does this by introducing a layer in-between the browser and the operating system.  

“It locks down the operating system and browser, so it becomes very difficult for anything to steal information. It’s a different approach to the issue. Traditional products are about spotting behaviours and finding something malicious and stopping it, but you’re always blind to what you don’t detect. This approach protects the data from everything,” said Mel Morris, CEO at Prevx.

That means malware cannot see the transaction at all: key stroke loggers can’t intercept information typed into a keyboard and information on screen is shielded from malware used for screen grabbing. Even if a machine is infected, the data is safe. It also protects customers from inadvertently passing their information to a phishing site.  Banks and other businesses will also be protected from other types of attack, such as man-in-the browser, cookie stealers and Trojans such as Zeus, MBR, Goldun and Silent Banker.

As well as the the SafeOnline technology, Prevx will provide customers with free real-time reports pinpointing threats and free customer support.  Key for banking customers, the software can be downloaded and active in seconds, without the need for IT to tweak the websites or use a specialised browser. It also works alongside traditional security offerings.

Prevx hopes providing a free service will mean the software will quickly gain volume of customers, raise awareness of the product and ultimately enable the company to upsell.  A number of UK banks have already expressed an interest in SafeOnline.
 

 

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