To meet the ever mounting threat posed by malware, ThreatMetrix™, the fastest-growing provider of integrated cybercrime prevention solutions, announced today that it has acquired the Australian-based company TrustDefender™, a recognized leader of secure browsing technology to stop man-in-the-browser (MitB) attacks and provide malware protection.
The ThreatMetrix™ Cybercrime Defender Platform is the first industry solution that integrates sophisticated malware detection and advanced device identification technologies in a single, unified platform.
This unified approach to cybersecurity is a game changer. By integrating malware detection and device identification with shared, centralized intelligence, ThreatMetrix delivers the unique ability to protect the integrity of entire online transactions.
The combined companies will operate under the ThreatMetrix name with global operations in the United States, Australia and Europe. The corporate headquarters will be located in San Jose, California.
“The natural synergies between device identification and secure browsing are very obvious,” said Reed Taussig, president and CEO, ThreatMetrix. “Successful transaction profiling requires sophisticated malware detection and intelligent device identification to determine if the device is compromised or if the transaction is at risk of being fraudulent. While our customers have recognized this for a long time, the only available solution – until now – was to implement multiple products across different vendors. By integrating advanced device identification and secure browsing into a single, competitively priced, easy-to-install and easy-to-use product, ThreatMetrix is delivering the most complete online fraud management solution available in the market today.”
The Growing Global Malware Threat
According to an Aite Group report (“Know Your Enemy: Successful Online Fraud Mitigation Strategies”), 25 million new, unique strains of malware were released in 2011. That number is projected to grow to 87 million strains by the end of 2015.
A Gartner Group report (“The Five Layers of Fraud Prevention and Using Them to Beat Malware”) containing a survey of 76 U.S. banks found malware was the number one cyberthreat. Gartner’s recommendation: banks and financial institutions implement a layered approach to fraud prevention to prevent and contain against cybercriminal attacks.
According to Andreas Baumhof, co-founder and CEO of TrustDefender, who now joins ThreatMetrix as CTO, the acquisition addresses the growing global malware threat.
“In 2011 we saw a huge increase in sophisticated MitB Trojan activities supporting fraudulent transactions with stolen identities,” said Baumhof. “Malware protection and fraud prevention are closely related, yet no truly integrated solutions were available in the market. The merger allows ThreatMetrix to address fraud prevention and malware protection as a single problem and deliver real benefits to customers at a lower cost.”
ThreatMetrix Cybercrime Defender Platform
With the acquisition, the ThreatMetrix™ Cybercrime Defender Platform now consists of the following product solutions and associated benefits:
- TrustDefender™ ID — TrustDefender ID is a cloud-based, real-time device identification solution that protects companies against cybercriminals and helps validate valuable returning customers. TrustDefender ID provides businesses with a crucial first perimeter of defense to protect online transactions, including account creation, login authentication and payment authorization.
- TrustDefender™ Cloud –TrustDefender Cloud is a cloud-based, real-time solution that helps companies protect customer data and defend against fraud, malware, MitB and Trojan attacks, and data breaches. It mitigates the risk of hidden malware compromising authenticated sessions to steal data, identities or money.
- TrustDefender™ Client — TrustDefender Client is a client-based, real-time solution that mitigates the risk of hidden malware compromising authenticated sessions to steal data, identities or money. A small client component installed on end-user computers identifies and isolates malware, verifies legitimate websites, protects the online session with the business, and communicates with the business to identify potential fraud.
“Combining endpoint centric fraud prevention products is cost effective,” said Avivah Litan, vice president and distinguished analyst, Gartner. “Device identification and malware detection in particular, are two of the most prevalent and required endpoint protection products in the market today. Device identification provides a strong foundation against fraud while malware protection closes a loophole in fraud prevention caused by man-in-the-browser attacks. Combining these solutions will streamline the fraud prevention, management and administrative processes for organizations combating today’s cyberthreats.”
- ThreatMetrix™ Cybercrime Defender Platform
- TrustDefender™ Client Datasheet
- TrustDefender™ Cloud Datasheet
- TrustDefender ™ID Datasheet