"I think what happened is the consumer side of the bank has spent seven years building defenses, learning about it ,but the business banking side has done nothing," Peter Chris said, Marketing Manager of SecuTech. "Now the business banking side is under attack."
Peter talks with bank executives about his company's product, the UniToken product, a ruggedized key with secure access device. There are a couple of banks in the U.S. that seem to be routinely probed by hackers and sophisticated malware, said Peter, who declined to name the banks.
In the U.S., where consumer online bank accounts often only require a login and password, it appears that hackers have obtained more account details than they can find money mules. Law enforcement agencies have increasingly warned people about work-at-home schemes that seek to recruit people to become mules.
"There's only a certain number of thousand of mules active at one time," Peter said "We're starting to believe that's the constraint around why aren't there billions and billions of dollars being moved out."
As a result, SecuTech roadmap includes plans for different ways to sign transactions with its device for businesses, which is now often done by the banks by a secure access control that is entered into a Web-based form, Peter said.
SecuTech is also looking into how to build hardware based security applications. Up to 10 percent of online banking customers in the U.S. are using mobile phone banking, and it will only be a matter of time before the number of users increase to make those platforms attractive to criminals, Peter said.
A smartcard-based driverless hardware key that offers 3-level security and manages the password and credentials on the device. It offers big encrypted memory and onboard encryption. The smartcard technology provides the strongest authentication and verification that enables a wide variety of security related solutions.
Enhanced business-With secure access in place, organizations can enable business through network connectivity and online services anytime, anywhere.Security-UniToken protects sensitive business data from unauthorized access.Cost savings- UniToken reduces password administration costs and losses from data breaches, and provides flexible and multiple solutions in one platform.
Identity protection-UniToken provides individuals with a reliable digital identity, protected from theft and abuse.Portability and convenience-UniToken enables users to take their access credentials with them securely, wherever they go, whenever they want.