INDEPENDENT NEWS

Consumer Authentication & Online Fraud Protection

Published: Tue 4 Dec 2007 11:37 AM
RSA Announces Major 2007 Achievements In Consumer Authentication And Online Fraud Protection That Help Customers Accelerate Their Businesses
Over 7 billion online financial transactions processed to date by RSA’s risk engine RSA Anti Fraud Command Center celebrates three years of operations – with more than 55,000 online attacks identified so far
Sydney, Australia – December 3, 2007 – RSA, The Security Division of EMC (NYSE: EMC), today highlighted several major accomplishments in consumer protection over the first three quarters of 2007. These successes include reaching impressive milestones in the number of online financial transactions processed by RSA’s systems and in anti-fraud protection.
“RSA is proud to have built one of the most comprehensive suites of solutions in the industry, both for the protection of customers' information and identities and for the mitigation of online fraud,” stated Mark Pullen, Country Manager Australia New Zealand at RSA. “Organisations are increasingly looking to RSA to help them realise the full value of their information assets, and to enable the acceleration of their business through customer confidence and robust threat management.”
Billions of Online Financial Transactions Processed
As of September 30, 2007, RSA’s risk engine – used within the RSA Adaptive Authentication and RSA® Transaction Monitoring solutions – has processed more than seven billion online transactions. Over recent months the rate of processed transactions has accelerated sharply, through the addition of new customers and end-users, and with financial institutions logging more activities as they seek to offer greater protection. RSA expects that it will shortly be handling more than one billion transactions every month.
As the core of the RSA Adaptive Authentication and RSA Transaction Monitoring solutions for remote channel fraud, the sophisticated risk engine is designed to analyse each transaction based on a multitude of parameters and sources, such as IP geo-location, device ID, ANI transaction amount and data from the RSA eFraudNetwork™ community. Once a risk score has been generated, each transaction is either allowed to continue without challenge, or appropriate action – such as logging, or additional authentication if necessary – is invoked according to the specific system configuration. As measured by major clients who share full fraud data with RSA, RSA’s risk engine has consistently detected 75%-95% of fraud in its various deployments over the past three years.
ENDS

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