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Panda SIT service tackles Online Banking Fraud and Internet Security

Now banks, pay-platforms and other businesses that operate online can ensure their clients are not infected with malware and prevent fraudulent transactions

Panda Security has launched Panda Security for Internet Transactions, an antifraud service for online transactions to protect clients of e-banking, pay-platforms and e-commerce against active malware.

Banks and businesses will be able to scan PCs to ensure that users launching transactions on their websites are not affected by any malicious code. This eliminates the risk of passwords being stolen or other fraudulent operations.

"Fraud and online theft are realities that are currently responsible for considerable financial losses for users as well as banks and other companies that operate transactions over the Internet with clients," warns Jose Antonio Lopez, Director of Corporate Solutions at Panda Security. "In 2007, online fraud has grown almost 40 percent with respect to 2006. That is an alarming expansion of this threat".

Panda Security for Internet Transactions protects against these dangers. This service will enable banks and companies to reduce losses as a result of online fraud and react rapidly to the malware that specifically targets them.

This product also includes specialized protection against targeted attacks. It also offers benefits for users of online banking and e-commerce services, as they will be able to perform online transactions with much greater peace of mind.

"By ensuring that users -- the weakest link in the online security chain -- are protected, consumer confidence in online transactions will grow rapidly," affirms Lopez.

Panda Security for Internet Transactions can be fully configured by banks or other companies that employ the service. Options include making the application visible to users, customizing the design, specifying the situations in which clients will be prevented from accessing the website, etc.

"For example, if the system detects that a user is infected with a Trojan that does not pose a threat to the transaction, the user can be allowed to access the website without delay.

The administrator can then decide whether or not to advise the users that their computer is infected," explains Lopez.

Banks and business that utilize this service can also decide how to perform the scan on clients' PCs. For example, they can require them to run a scan before entering their details, or, if they prefer, include it as a voluntary option. The scan can also be run after the user identification process, on an intermediate web page, or on all the pages that the company chooses. All these parameters are managed and configured through a web console.

Clients of Panda Security for Internet Transactions will have a direct line to PandaLabs -- the malware scanning and detection laboratory at Panda -- so product updates will be immediate should a new malicious code appear that targets the specific company.

Scanning takes place in real-time and is imperceptible to users, who can continue to use the Internet without any problems.

All that is required is the installation of a small ActiveX control the first time the PC is scanned. The product is compatible with both the Internet Explorer and Firefox browsers.

Panda Security for Internet Transactions detects more than two million malicious codes, and benefits from the new security focus from Panda, called "Collective Intelligence".

This system is based on the collection of information concerning malware from the Internet community and the automated processing of this data in new data centers. This is correlated and leveraged to offer greater detection and improved security for clients.

Désiré has been musing and writing about technology during a career spanning four decades. He dabbled in website building and web hosting when DHTML and frames were en vogue and started writing about the impact of technology on society just before the start of the Y2K hysteria at the turn of the last millennium. Following an eight-year stint at where he discovered the joys of global tech-fests, Désiré now heads up TechRadar Pro. Previously he was a freelance technology journalist at Incisive Media, Breakthrough Publishing and Vnunet, and Business Magazine. He also launched and hosted the first Tech Radio Show on Radio Plus.