cyotas Archives • CardFlash® - Payment Card Industry News

E*TRADE Opts for RSA for Security Services

5, Country, Priority, UNITED STATESBy Robert McKinley 03/02/2006

E*TRADE FINANCIAL has selected the “RSA Adaptive Authentication” solution and anti-phishing service for its retail customers. RSA Security’s risk-based authentication solution is engineered to analyze every login and transaction behind the scenes, and scores the potential risk based on a broad range of criteria, including the user’s IP address, geographic location and prior transaction behavior. E*TRADE FINANCIAL will also join the RSA Cyota eFraudNetwork community, a cross-institution online fraud repository which is designed to allow financial institutions to share fraudster profiles and detect and stop online banking and online commerce fraud. RSA Security provides protection for online identities and digital assets.

Royal CU Deploys Two Cyota Solutions

5, Country, Priority, UNITED STATESBy Robert McKinley 01/06/2006

Royal CU, one of Wisconsin’s largest credit unions, has selected Cyota’s “eSphinx” two-factor authentication and “eStamp,” a reverse authentication watermark for online banking. Cyota’s eSphinx authenticates all users and transactions, behind the scenes, based on their computer and profile. It asks for further authentication through member-defined challenge-response questions or other means for high-risk transactions. Cyota, Inc. is the leading provider of online security and anti-fraud solutions for financial institutions and fraud reduction tools for e-commerce and online banking. Royal Credit Union, is a federally insured credit union serving over 102,000 Members with 11 full service offices.

RSA & CYOTA

5, Country, ISRAEL, PriorityBy Robert McKinley 12/09/2005

RSA Security has inked a deal to acquire privately-held Cyota for
approximately $145 million. Cyota’s online fraud services currently
protect more than 430 million accounts, including seven of the top 10
banks in the U.S. and four of the top five in the U.K. The transaction
involves up to $136 million in cash for all of the outstanding stock of
Cyota, $5.5 million in cash to fund a three-year retention pool and at
least $3.5 million for the assumption of all outstanding Cyota stock
options. RSA Security believes that the acquisition will enable the
Company to establish itself as a strategic hub for the consumer
marketplace, providing the ability to authenticate and protect all
aspects of online banking and e-commerce: end-users, merchants and
transactions. Cyota created the first anti-phishing solution in Dec.
2003. The transaction is expected to close within 30 days. RSA Security
was advised on the acquisition by America’s Growth Capital.

RSA to Acquire Fraud Expert Cyota for $145MM

5, Country, Priority, UNITED STATESBy Robert McKinley 12/05/2005

RSA Security has inked a deal to acquire privately-held Cyota for approximately $145 million. Cyota’s online fraud services currently protects more than 430 million accounts, including seven of the top 10 banks in the U.S. and four of the top five in the U.K. The transaction involves up to $136 million in cash for all of the outstanding stock of Cyota, $5.5 million in cash to fund a three-year retention pool and at least $3.5 million for the assumption of all outstanding Cyota stock options. RSA Security believes that the acquisition will enable the Company to establish itself as a strategic hub for the consumer marketplace, providing the ability to authenticate and protect all aspects of online banking and e-commerce: end-users, merchants and transactions. Cyota created the first anti-phishing solution in Dec. 2003. The transaction is expected to close within 30 days. RSA Security was advised on the acquisition by America’s Growth Capital.

Cyota Releases Next Gen Watermark Technology

5, Country, Priority, UNITED STATESBy Robert McKinley 07/26/2005

Cyota has released its second generation, patent-pending, cookie-less watermark technology. The “eStamp” solution provides reverse authentication, a simple and consistent way for banks to validate themselves to customers for online transactions and e-mail communications. When the bank displays the correct user-selected image, the user knows it is safe to begin transacting with the bank. eStamp’s strength is in its consistency, as it provides the same user experience from any device at any location. Cyota began using textual watermark technologies four years ago as part of the MasterCard “SecureCode” and “Verified by Visa” compliant services to banks. Cyota offers “eStamp” at the cost of 10 cents per user per year.

Digital Insight Offers Cyota FraudAction

5, Country, Priority, UNITED STATESBy Robert McKinley 06/30/2005

Digital Insight has signed a deal to offer client financial institutions Cyota’s “FraudAction” anti-phishing solution. The partnership will enable Digital Insight clients to implement a tailored version of FraudAction that fits their specific needs. Cyota’s Anti-Fraud Command Center (AFCC) reports it has seen a 633 percent increase in the number of financial institutions attacked by fraudsters between January and May 2005. Cyota providers online security and anti-fraud solutions for 10,000 global financial institutions. Digital Insight Corporation is an online banking provider for financial institutions.

Cyota Enhances ScamBlocker to Fight Fraud

5, Country, Priority, UNITED STATESBy Robert McKinley 06/27/2005

Cyota has signed a deal to provide data to enhance EarthLink’s “ScamBlocker” to provide immediate protection from fraudulent financial phishing sites. ScamBlocker warns users before they access known or suspected phishing sites, and redirects them to an EarthLink-generated Web page that provides additional information about phishing and similar online scams, and what actions subscribers can take to further protect themselves. Cyota is the leading provider of online security and anti-fraud solutions for financial institutions. Over 400 million account holders are protected by Cyota’s systems.

Phishers Now Target CUs and Small Banks

5, Country, Priority, UNITED STATESBy Robert McKinley 06/13/2005

Online fraud fighting specialist Cyota reports a 633% increase in the number of phishing attacks against credit unions and small/regional banks since January. Last month, Cyota observed that 22 CUs were attacked by phishing scams. Only one or two attacks occurred against each of these institutions — as opposed to hundreds of attacks each month for larger or global banks. Cyota’s “FraudAction,” launched in late 2003, has dismantled more than 7,000 phishing sites in 65 countries and lowered an attack’s life expectancy to an average of five hours. Cyota also this morning announced that the Pennsylvania State Employees Credit Union has deployed Cyota’s “FraudAction” service to proactively fight phishing, pharming and other forms of online fraud. Cyota’s additional products include Cyota “eSphinx,” a strong two-factor authentication solution for online banking; Cyota “eVision,” the company’s online fraud management solution; and Cyota “SecureSuite,” an e-Commerce fraud solution supporting “Verified by Visa” and “MasterCard SecureCode.”

Personalized Phishing Hits the Web

5, Country, Priority, UNITED STATESBy Robert McKinley 05/16/2005

Cyota says it has detected a new phishing attack wherein an organized gang of fraudsters is using real stolen information to target account holders by name to lure individuals into divulging additional sensitive information. The goal of “Personalized Phishing” is to enhance existing lists of stolen credentials with even more sensitive information not yet possessed by the fraudsters, such as ATM PIN numbers or credit card CVV codes. These complete sets of credentials have a much higher resale value among the online fraud communities than just the names and account numbers. Cyota says its “Anti-Fraud Command Center” has immediately begun blocking access to and taking down these fraudulent sites.

Anti-Pharming Solution Gains Ground

5, Country, Priority, UNITED STATESBy Robert McKinley 05/11/2005

NY-based Cyota has introduced a pioneering solution designed to fight pharming, also known as DNS poisoning or spoofing, a new type of online fraud attack. Thirteen of Cyota’s existing anti-phishing clients have already deployed the anti-pharming solution over the past eight weeks, including one major British bank, two large U.S. banks, three U.S.-based credit unions and several major global banks. The anti-pharming solution is part of Cyota’s “Fraud Action” service, launched in January 2004. Cyota says its Anti-Fraud Command Center has shut down more than 7,000 spoofed sites in 65 countries, and lowered the typical lifespan of an attack to five hours from an industry average of six days.

Cyota Helps AOL Block Access to Phishing Sites

5, Country, Priority, UNITED STATESBy Robert McKinley 04/20/2005

America Online has teamed with New York-based Cyota to step up the battle against “phishing” by identifying and blocking access to suspect sites, based on member feedback. When a possible phishing site is identified, AOL limits access to the site and informs members that it is suspected of being a dangerous site. America Online provides interactive services, Web brands, Internet technologies and e-commerce services. Cyota provides security and anti-fraud solutions.

Cyota Launches Next Gen Authentication

5, Country, Priority, UNITED STATESBy Robert McKinley 04/07/2005

Cyota has launched a new product based on the company’s “Adaptive Strong Authentication” technology for online banking. “Cyota eSphinx” authenticates all online banking activities beyond the standard user name and password based on a device profile, assesses the risk level associated with each activity or transaction in real time and requests additional authentication measures for any transactions identified as high risk. The new product is a low-cost alternative to hardware-based strong authentication solutions and is completely invisible to 95% of account holders. At the first sign of a high-risk transaction, such as major deviations from a customer’s established banking patterns, device or communication profile, eSphinx immediately invokes stronger authentication measures via telephone or other communication channel. If the transaction is deemed authentic, eSphinx will adapt and “learn” this new user behavior, and will not trigger similar alerts in the future. “Cyota eSphinx” is a low-cost alternative to hardware-based strong authentication solutions, and is completely invisible to 95% of account holders.

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