StrikeForce Technologies Teams With Bharosa to Deliver Advanced Fraud Protection for Consumers

StrikeForce Technologies Teams With Bharosa to Deliver Advanced Fraud Protection for Consumers

Bharosa and StrikeForce Technologies Inc. (OTCBB: SKFT) today announced plans to deliver advanced security solutions to combat the growing threat of consumer identity theft and fraud on the internet. Bharosa will enable StrikeForce to provide real-time fraud detection to its existing ProtectIDTM Strong Authentication Platform, to safeguard consumers’ online identity and transactions using a phone as a second form of “Out-of-Band” authentication, as well as other two-factor methods provided on StrikeForce’s ProtectID Platform. The joint offering will provide financial institutions and online retailers with the robust arsenal of security tools they need from A-Z, to protect consumers while complying with industry security guidance and regulations.

As part of its security strategy, StrikeForce will OEM fraud detection capabilities from Bharosa to provide an enhanced offering for its rapidly growing customer base including market leaders like Financial Services Inc. (FSI). Bharosa, an award-winning, privately held Silicon Valley company has quickly joined the ranks of the industries’ largest security providers and is now securing over 17 million users in over 1,000 enterprises worldwide.

“In a continually shifting threat landscape, financial institutions must provide the most advanced, yet user-friendly forms of identity theft protection,” said Mark L. Kay, CEO of StrikeForce Technologies. “StrikeForce will combine Bharosa’s products with its own ProtectID Platform to offer enhanced, complete, yet seamless protection against the most sophisticated fraud attacks.” Consumer anxiety about internet security caused a $2 billion loss in e-commerce and banking transactions in 2006, according to Avivah Litan, vice president and analyst at Gartner. Litan said that organizations are going to have to work to regain consumer trust.

Using Bharosa and StrikeForce together, companies can defend against the latest online threats, including account takeover schemes and man-in-the-middle attacks to restore trust in internet transactions. The combined offering will utilize advanced authentication and fraud detection to score risk and alert organizations in real time to potential fraud threats. In addition, the Bharosa/StrikeForce solution enables companies to employ a range of security options, including out-of-band phone authentication, to meet diverse user requirements or upgrade to higher levels of protection as threats increase without reinvesting in infrastructure.

Read the complete Press Release