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Safe Money: Kaspersky’s Solution For Securing Online Financial Transactions

Published Sep 27, 2012

In his blog Eugene Kaspersky reflects on the dangers of conducting financial operations on the Internet, and describes a new method for protecting online transactions.

There may still be some out there using grandma’s trusty old hide-it-under-the-mattress option, but protecting online financial transactions has become problem No. 1 for the majority of users, according to the blog. Trojan programs, phishing and social engineering, advanced attacks such as sniffing etc. are the main methods employed by cyber-criminals to get their hands on users’ virtual wallets and purses. This gives rise to the three main problems of protecting against financial cyber-fraud: a lack of reliable site identification; a lack of trusted connections via the Internet between online services and clients; and a lack of guarantees that software installed on a computer doesn’t contain vulnerabilities that could be exploited by malware.

“Many aspects of this problem are addressed by the latest Internet Security-class protection products,” Eugene Kaspersky states in his blog. “But this is in no way enough to be safe in real-life scenarios. Moreover, the majority of products don’t even have all the necessary features to provide comprehensive protection. What’s worse, the features they do have don’t work well together to solve specific problems. What’s really needed here is a multi-faceted ‘cure’. This is where Safe Money comes in!”

Safe Money is implemented in the upcoming version of Kaspersky Internet Security. The technology is designed to protect financial and other confidential information during online transactions and consists of three key components. The first is a database of trusted addresses for banks and payment services that includes over 1500 different banks in 84 domains. The second key component of Safe Money is a certificate verification service that establishes whether a website is genuine or not. At the same time the technology’s protected browser mode is launched the computer is scanned for vulnerabilities – this is the third key component of Safe Money.

This creates integrated, multi-layered protection specifically tailored to counter financial fraud and highly specialized malware. Importantly, all the necessary components of the product are synchronized to meet such threats.

The full version of Eugene Kaspersky’s Safe Money blog can be viewed at: http://eugene.kaspersky.com/2012/08/14/safe-money-online-banking-security/



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