The Coastal Bank Launches New Secure Browsing Service From IronKey
Protects Online Banking Customers From Cyber Thieves
SAVANNAH, GA and SUNNYVALE, CA--(Sep 19, 2011) - The Coastal Bank, a community banking innovator in Savannah, Georgia, is taking the lead to proactively protect its business and personal customers against escalating threats from cyber thieves targeting ACH, wire transfers and other online payments. The Coastal Bank will offer its customers IronKey Trusted Access, a secure browsing solution that prevents identity theft, payments fraud and online banking account takeover.
"Depositors across the country are under attack by fraudsters thousands of miles away. Instead of attacking financial institutions or merchants directly, criminals are targeting customers on their own computers," said Jim LaHaise, executive vice president and chief banking officer at The Coastal Bank. "To protect our customers, The Coastal Bank is proactively offering IronKey Trusted Access to help secure our customers' money while they bank and conduct other business on the Internet even if their own PC is infected with malicious software." (Video: Executives of The Coastal Bank and IronKey explain the secure browsing service)
The Coastal Bank's Trusted Access service is an affordable online security solution to protect customers from the growing number of online threats. The Anti-Phishing Working Group (APWG) estimates that 25 percent of all computers are infected with crimeware designed to steal money. Today's anti-malware software fails to detect these threats at least 75 percent of the time per real-time research from SpyEye Tracker(1). As a result, online banking account takeovers are growing at over 150 percent based on new research published by FS-ISAC (Financial Services Information Sharing and Analysis Center).
With Trusted Access, customers know that they are accessing an authentic site and their transactions are not being monitored or tampered with by crimeware. The Coastal Bank is offering one of the newest Trusted Access features: Trusted Bookmarks, which allows customers to safely access popular websites, such as business, retail and financial websites, using a safe 'white list' that is managed by the bank for their users.
The Trusted Access service is available to all Coastal Bank customers. This continues building on The Coastal Bank's commitment to personalized service and aggressive new customer acquisition.
"Partnering with IronKey is a strategic initiative for The Coastal Bank to deliver innovative risk management tools to our community," added LaHaise. "IronKey Trusted Access is part of our commitment to help protect our customers' financial security and well-being."
Unlike other approaches, Trusted Access assumes a client's computer is infected with the latest zero-day attack that would go undetected by anti-virus and other software technologies. Trusted Access provides a secure Web browser protected in a fully virtualized, read-only environment tailored to protect online banking sessions from known and unknown crimeware. Even if a computer is infected with malware, the online banking session should remain safe, secure, and private. The IronKey solution includes the Trusted Access portable USB security device, which launches a protected, virtualized operating system and Web browser that only works with the IronKey Trusted Network and, when deployed, limits the end user's online access to bank-approved sites.
"The Coastal Bank is stepping ahead of its competition in Georgia by offering IronKey Trusted Access," said Arthur Wong, CEO of IronKey. "Bank customers now have the same level of safety and security they get inside The Coastal Bank branches when they go online to bank and conduct business."
The IronKey Trusted Access method is one of the effective security controls recognized by the Federal Financial Institutions Examinations Council (FFIEC) in its new guidelines for stronger online security that go into effect starting January 2012. Trusted Access also meets NACHA and FBI recommendations for safe online banking by providing a dedicated, isolated and secure browser environment. And the secure browser approach is recognized by research firm Gartner, Inc. as one of most critical security controls for preventing online banking fraud.
For more information about The Coastal Bank and their Trusted Access offering, visit www.thecoastalbank.com or call (912) 201-7377. For more information on IronKey's Trusted Access visit www.ironkey.com.
"Protecting Online Banking Customers from Evolving Cyber Crime Threats" -- webcast explains the latest bank phishing attacks, the ZeuS Trojan and SpyEye, and why anti-virus software, firewalls and other conventional safeguards are not able to stop these attacks.
"Trusted Access Guided Demonstration" -- product demonstration and example attacks.
About The Coastal Bank
The Coastal Bank is a $450 million community bank with six locations along the Georgia coast. Locally owned and operated, The Coastal Bank provides a full range of financial services, specializing in small business, consumer banking and real estate lending. Headquartered on Johnson Square in Savannah, this successful community bank has been serving the greater Savannah area since 1954. The Coastal Bank has an operations center in Pooler and branches throughout coastal Georgia. For more information about The Coastal Bank, please call (912) 201-4934 or visit www.thecoastalbank.com online.
Ranked as the 14th best venture-funded company in The Wall Street Journal's "Next Big Thing 2011" survey, IronKey secures data and online access with software and hardware solutions managed through cloud-based services. IronKey's award-winning Trusted Access Platform helps financial institutions reduce the risk of online fraud, achieve compliance with Federal Financial Institutions Examination Council (FFIEC) guidelines, and acquire new customers with a competitive advantage. Starting with secure browsing that keeps customers safe from crimeware attacks on their PCs, banks can add multiple layers of security to meet the needs of client risk and value. IronKey's industry-leading mobile data protection solutions prevent costly data breaches with military-grade encrypted portable storage devices and cloud-based management. Visit www.IronKey.com for more information.
(1) SpyEye Tracker, September 9, 2011, https://spyeyetracker.abuse.ch/