Keep your money safe in the bank

Fri, 26 Oct 2012 – Adam Tegg, CEO Wontok

Is your money safe from cybercriminals? Every month a new report is released covering the growing cybercrime economy. The reports give great insight into evolving methods of the criminals and their vast profits. What is not covered is the devastation they leave behind. While banks are generally required to reimburse consumers who have their money stolen, it is not always simple. Many jurisdictions require individuals to alert banks that their money has been stolen within a tight timeline but when cybercriminals hijack their email addresses it may take many months for victims to realise. It can take many years to re-establish credit history which has been eviscerated by criminals.

For business owners, they can lose their business and their life savings. Bank laws treat individuals and companies differently, reasoning that companies should be more sophisticated than individuals and have their own online security measures in place. Business owners (who discover bank account theft) experience another shock when they are informed that banks are unlikely to cover their losses. This situation has led to costly and distracting litigation for both parties. Of course loss of confidence and trust and tarnished reputations often never recover.

Zeus and SpyEye steal hundreds of millions of dollars globally per year. Standard antimalware suites do not protect users. So many people and organisations are being hit by online theft that there is the realization for an added layer of security to safeguard against financial fraud and losses. With more people and organizations banking online, a locked down web browser at the endpoint is now a necessary additional layer of protection against cybercriminals. SafeCentral has built and deployed a solution that protects millions of users against Zeus and SpyEye, the primary bank fraudster tools.

SafeCentral lets organisations set the conditions that must be employed when transacting or communicating online. Even if your machine is infected with malware, SafeCentral can protect you, and ensure you do not become a statistic in the next cybercrime economy report.