Bharosa Announces Online Authentication Solution to Counter Check 21-Based Fraud
Bharosa, a provider of secure multifactor online authentication solutions, today announced a solution to authenticate users at the point at which they access highly sensitive digital check images online. The new product, Bharosa CheckPadâ„? expands Bharosa’s bundled suite of Virtual Authentication Devicesâ„?, answering demand from financial institutions for Bharosa patent-pending technology applied to digital check image encryption.
Santa Clara, CA (PRWEB) November 7, 2005 — Bharosa, a provider of secure multifactor online authentication solutions, today announced a solution to authenticate users at the point at which they access highly sensitive digital check images online. The new product, Bharosa CheckPadâ„? expands Bharosa’s bundled suite of Virtual Authentication Devicesâ„?, answering demand from financial institutions for Bharosa patent-pending technology applied to digital check image encryption.
Digital check images are becoming widely implemented in place of paper checks following the enactment of the Check Clearing for the 21st Century Act, commonly known as the “Check 21” legislation, in October 2004. While digitization creates check handling efficiencies for banks, since images lend themselves to rapid retrieval, transmittal and storage, these same advantages can also increase fraud risks. The highly sensitive contents of checks, including account numbers, check numbers and customer signatures, can more easily be obtained by fraudsters. And once revealed, information on an account’s recent check activity and balances may be all a fraudster needs to begin writing counterfeit checks undetected by the financial institution.
Bharosa CheckPad checks this fraud before it happens by requiring strong, multifactor online authentication, both at login and during an online banking session when a user attempts to view an image of a paid check. Proprietary Bharosa technology also encrypts the actual check image displayed online, so it can not be easily “read” through any automated means, such as Spyware programs or Trojans. This is made possible through a number of unique and patent-pending Bharosa encryption methods.
Bharosa Virtual Authentication Devices are licensed to 2.2 million users in 61 countries and offer multifactor authentication strength comparable to their hardware and software token-based counterparts, but without hardware or proprietary software installations of any kind. This brings the additional advantages of a non-device dependent approach, including low cost, flexible deployment and ease of use. Bharosa Virtual Authentication Devices provide the enterprise with optimal defenses against identity theft crimes including Phishing, Trojans and Malware. Edward Ching, analyst with the firm Rodman & Renshaw, states that “Bharosa’s innovative solutions should be an attractive security option for enterprises to deal with sophisticated attacks.”
More information is available at www.bharosa.com.
About Bharosa
Bharosa, Inc. is a privately held company founded in May 2003 and headquartered in Santa Clara, California. Bharosa offers online security solutions to protect against the rising risks of Phishing, Trojan and Proxy-based fraud. Patent-pending Tracker and Authenticator products offer purely Web-based, multi-factor authentication and online fraud monitoring and detection. More information about Bharosa is available at www.bharosa.com.