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Posted January 9, 2012
Integrating Malware Protection with Device Identification Provides Businesses with Comprehensive Security in the Battle Against Cybercrime
San Jose, CA – January 10, 2012 – 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 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 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.”
TrustDefender delivers security and fraud detection technology to protect enterprises and their customers at the device and transaction level from online fraud. This enables TrustDefender’s customers in banking, e-commerce, government, and cloud application providers to reduce the cost of online fraud. The company’s combination of device and page fingerprinting technologies is a world first and instantly detects the source of any attempts to compromise an organization’s online defenses. TrustDefender, founded in 2006, is headquartered in Sydney, Australia with offices in the United Kingdom, U.S. and Asia Pacific and can be found online at www.trustdefender.com.
ThreatMetrix®, The Digital Identity Company®, is the market-leading cloud solution for authenticating digital personas and transactions on the Internet. Verifying more than 20 billion annual transactions supporting 30,000 websites and 4,000 customers globally through the ThreatMetrix Digital Identity Network®, ThreatMetrix secures businesses and end users against account takeover, payment fraud and fraudulent account registrations resulting from malware and data breaches. Key benefits include an improved customer experience, reduced friction, revenue gain and lower fraud and operational costs. The ThreatMetrix solution is deployed across a variety of industries, including financial services, e-commerce, payments and lending, media, government and insurance.