San Francisco-based Presidio Bank is increasing protection against threats from online fraudsters targeting ACH, wire transfers and online banking by offering clients Ironkey Trusted Access (view press release). IronKey Trusted Access helps prevent identity theft, online account takeover, and payments fraud. By using the downloadable solution, the bank is able to meet the new Federal Financial Institutions Examinations Council (FFIEC) guidance, which all financial institutions must comply with this year to reduce the risk of online banking fraud.
Trusted Access protects online banking even if a client’s computer is infected with the latest zero-day attack that would otherwise remain undetected by anti-virus software. The platform provides multiple layers of security by integrating cloud-based network services and software that can be downloaded or run from a secure USB device. When a user starts Trusted Access on a computer, it launches a protected, virtualised operating system and a web browser that combats crimeware.
“Trusted Access helps us protect our commercial clients at the point most vulnerable to malware attacks - the customer's own PC." said Fred Bailard, EVP at Presidio Bank.
Technology analyst firm Gartner estimates that cyber criminals have stolen more than USD 3 billion from banks, business and municipalities in the US using financial malware.