Gradian Tackles Identity Theft with PINs & OTP's
May 18th (PIN Payments News Blog) Gradian has joined forces with Swiss technology group Cidway to help UK businesses and consumers tackle identity theft and fraud. From today, Gradian will provide Cidway’s ground-breaking technologies for mobile phones that make transactions like online banking, remote access or mobile payment much more secure.
By using unique PINs and one time passwords, enabled over mobile phone based applications, Cidway protects customers from rising security risks and attacks such as phishing (fake emails and websites designed to gain customers’ account details) or man-in-the-middle (fraud in which the attacker makes independent connections with the victims and relays messages between them to change transaction details). Cidway products are already being deployed by banks, governments and enterprises right across Europe, Middle East and Asia.
This clever technology has never been needed more. The latest Unisys Security Index revealed that almost three-quarters (72 per cent) of UK citizens believe they are at greater risk from identity theft and related crimes such as credit card fraud as a result of the financial crisis. According to the recent study, 88 per cent of consumers are concerned about other people obtaining and using their credit card, debit card or bank account and another 88 per cent are concerned about others gaining unauthorised access to or misusing their personal information. These worries are supported by evidence from APACS, the payments industry association, which saw total fraud losses on UK debit and credit cards rise by 14 per cent to £609m last year.
Damian Acklam, Managing Director, Gradian, said “Cidway’s technology is a revelation in the fight against identity theft and fraud, and I’m genuinely excited about the tangible difference it will make to individuals and organisations alike. I’m proud to be the sole UK supplier of Cidway products at a time when protecting finances is paramount.”
Gustavo Racioppi, CEO, Cidway, said “Gradian’s broad knowledge and expertise in data security and managed networks means they are the perfect partner to share Cidway’s technology with their customers. We’ve cut fraud and saved money for people in many other parts of the world, and I’m looking forward to seeing success stories develop in the UK.”
About Gradian Systems Ltd
Gradian is one of the UK's leading enterprise security solutions providers, specialising in messaging applications. Its principle activities include the provision of technology and services to regional, national and international firms focused on mitigating IP, governance, compliance, and data security risks associated with the proliferation of mobile devices, users and applications.
With unrivalled support and service offerings Gradian currently help over 150 customers across the UK and Europe communicate more effectively, and securely.
For more information, see www.gradian.co.uk
Source: Press Release
