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News

European Cyber-Gang threat defended by AppGuard Enterprise

Blue Ridge Networks : 28 August, 2009  (New Product)
Blue Ridge Networks has reacted to the emerging threat of Cyber-Gangs executing fraudulent banking transactions on small business computers with AppGuard Enterprise protection against zero-day attacks
A recent article by Brian Krebs in the Washington Post describes how European Cyber-gangs are using malware they load onto the PCs of small and medium size businesses to execute fraudulent bank transfers. In many cases the cyber-crooks steal valid banking credentials by sending malicious emails to the company controller or treasurer. The emails may contain attachments with viruses or links that when opened cause password stealing malware to be downloaded. The crooks then initiate multiple wire transfers, in sums less than $10,000, to avoid the bank's reporting requirements.

Blue Ridge/Secure AppGuard Enterprise stops the type of zero-day malware used in many of these attacks.

Unlike consumer fraud protection, under the Uniform Commercial Code, companies banking online have only two business days to report suspected fraudulent activity. Since many of the illegal wire transfers are relatively small, transfers can go unnoticed for days or weeks, making challenges difficult and recovery of the funds nearly impossible.

And even if a company survives a breach as most do, the cost to recover can easily be two to three times the actual cash loss. First is the time to identify and verify the fraudulent transactions, then the investigation itself and finally developing and implementing new processes and procedures to prevent new malware attacks.

AppGuard Enterprise stops zero-day malware attacks whether they originate in emails, website links, USB devices, or legitimate websites that have been compromised. Its drive-by-download protection blocks viruses or spyware from even entering a PC or laptop and its privacy protection feature blocks Web browsers from stealing a user's private information.

AppGuard Enterprise provides centrally managed anti-malware protection that can support hundreds to thousands of desktop and laptop PCs. Unlike many of today's security suites that require extensive set-up and configuration fine-tuning, AppGuard Enterprise can be deployed in a matter of hours to deliver greater malware protection faster without increasing administration costs.

'As a growing business and developer of PC security software, we are keenly aware that breaches like this can wreak havoc on business operations or much worse, drive companies out of business,' said Mike Fumai, CEO of Blue Ridge Networks. 'With AppGuard Enterprise available as a managed security service or commercial product, businesses can achieve significantly greater protection for just a few dollars per month per PC.'

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