FEITIAN announces client validation of server (CVS) feature for all OTP tokens
Oct 13th, 2010
Beijing, China, October 8th 2010. FEITIAN Technologies Co. Ltd., a leading software security company specializing in authentication products, today announces client validation of server (CVS) feature for all OTP tokens.
FEITIAN announcing the CVS (Client Validation of Server) feature for all FEITIAN OTP tokens puts the company in the lead for online strong authentication. Adding this feature will allow customers to be able to verify that the server is in fact genuine. And the best part is it is simple to use, easy to deploy and very competitively priced. Currently many of FEITIANs competitors do not offer this feature in many markets.
Confirming the back end server is vital in determining if a phishing attack is in progress. In many cases using a simple OTP to login to online banking is simply not enough. In the case of a phishing attack user information and OTP numbers may be transferred immediately to the valid online banking site leaving a potential risk of fraudulent activity. Fraudsters quickly transfer funds to "mule" accountant and abroad making it very difficult for official to trace and close to impossible to recoup the stolen funds. Measure need to be implemented to allow users to prevent these attacks first hand and the most convenient, easy to deploy and easy to use solution is FETIAN's CVS.
It is highly suggested that for all emails that come with links to update information referring to online banking that the customers validate the server to guarantee that in fact this is the real server. FEITIAN's cutting edge feature, Client Validation of Server, allowing the end user to validate the server solves the problem.
Client Validation of Server is accomplished through following a few simple steps. First on the online banking website a link will appear on the login screen "validate server". If the link is not present then the site is fraudulent and users should report the case to authorities. By clicking on the link the end user will follow a few simple steps in order to validate the server. Once the server has been validated the user will have the peace of mind that the site is the genuine banking site and it is safe to login. The whole process takes less than 30 seconds.
Internationally many law suits are in progress between banking institutions and clients due to phishing attacks stealing large amounts from accounts. This page shows an excellent example of an online attack that could have been prevented if the bank would have used CVS along side with its online tokens. These simple measures would have prevented the theft of $550,000 USD, the law suit that is pending and the embarrassing remarks on both sides. Banking institutions need to consider the potential threats that may be faced when not implementing CVS.
Moving in an innovative direction shows that FEITIAN is offering state of the art security products and will continue to develop cutting edge products to meet information security needs. In past years FEITIAN has been the leader in information security in Asia and expanding quickly worldwide. Chinese banking institutions trust FEITIAN to implement security solutions to millions of users. Currently FEITIAN is expanding at an astounding pace and creating a strong presence in markets worldwide.
"CVS allows for another step in a positive direction that will prevent phishing attacks and secure end users information. Fraudsters move at an amazing pace and we have to develop even faster to provide solutions that will really help our clients. Today we once again have moved into a positive direction staying 10 steps ahead of fraudsters." Said FEITIAN's International Department Director Dini Liu during the press release.