Panda Security Rolls Out Anti-Fraud Service

Panda Security uses 'collective intelligence' to stop online frauds with availability of Panda Security for internet transactions

Dark Reading Staff, Dark Reading

January 21, 2008

2 Min Read

GLENDALE, Calif. -- Panda Security, a leading global provider of IT security solutions, today announced the general availability of Panda Security for Internet Transactions, an anti-fraud security service that protects banks and online merchants against active malware targeting business to consumer as well as business to business transactions. Designed in direct response to growing concerns in the market regarding the safety of online transactions, Panda Security for Internet Transactions is the first to use intelligence from within “the cloud” with a unique Targeted Attack Alert Service (TAAS) to protect against financial fraud associated with identity theft Trojans.

Bankinter, a leading commercial bank in Spain, is using Panda Security for Internet Transactions to safeguard itself and its customers against financial fraud. According to Jesús Milán, IT Security Manager for Bankinter, "We are acutely aware of the constant evolution of traditional threats that affect online transaction security and of professional tools being used for fraud. Having preventive tools and services that provide a layer of security where it is most needed is without a doubt a line that we are obliged to follow as a leading financial services entity.”

Unlike other solutions on the market that only address authentication, Panda Security for Internet Transactions provides specialized protection against active threats on a user’s PC designed for financial fraud. This latest breed of malware affects financial institutions, online merchants and consumers silently via Trojans that capture confidential information like pin numbers and apply it to illegal activities, such as credit card scams, fraudulent ATM transactions, among others. Panda Security combats these dangerous Trojans by quickly scanning online consumers’ PCs for threats and then automatically protecting companies against financial harm based on their preferred, customizable response options. Since the transparent scan takes only five seconds, consumers can continue using the Internet without interruption.

According to research firm Gartner, Inc., “Even the best signature databases can miss the wild threats two to 10 percent of the time, and most have less than a 50 percent chance of catching completely new threats. Signatures are extremely ineffective against targeted threats and ‘zero day’ threats.”[1]

Panda Security for Internet Transactions utilizes Collective Intelligence, a proprietary method of predicting and preventing targeted attacks by associating malware detections and behavioral patterns within “the cloud”, rather than using a large signature file to identify threats locally. This approach maximizes malware detection capabilities while minimizing the resource and bandwidth consumption of protected systems. Because the bulk of analysis and computation is done remotely at PandaLabs, there is no need for a lot of memory or large signature file downloads every time the user wishes to initiate a scan.

Panda Security

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Dark Reading Staff

Dark Reading

Dark Reading is a leading cybersecurity media site.

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