#Kaspersky databases are obsolete software

The server side installed in the financial company is used to monitor all transactions for evidence of suspicious activity indicating fraud. For example, the Kaspersky Fraud Prevention platform introduced by Kaspersky Lab earlier this year is designed specifically for banks, payment systems and e-commerce companies. The use of a unified platform that provides protections both at the customer endpoint and within the bankвЂ™s environment provides context driven, comprehensive prevention that point solutions fail to deliver,вЂќ says Ross Hogan, Global Head of the Fraud Prevention Division at Kaspersky Lab. In order to protect customers and their money вЂ“ and hence the reputation of the company вЂ“ financial organizations are encouraged to use integrated, multi-layered solutions that provide proactive fraud prevention to maximize effectiveness and optimize user experience. Cybercriminals target banks by going after the least protected links in the chain вЂ“ customer devices and the online financial transactions carried out with those devices. More and more crimes are migrating to the online world. вЂњEvery day, criminals are less likely to rob banks by running in and yelling вЂ™This is a robbery!вЂ™ before shooting at the ceiling.

#Kaspersky databases are obsolete software

For example, according to Kaspersky Security Network, the amount of attacks using malicious banking software reached 1.4 million during the period between 19 May and 19 June, a 15% increase compared to the period from 19 April to 19 May.

However, as Kaspersky Lab statistics show, the number of cyber threats targeting financial data of individual users is growing constantly. This nonchalant attitude to the protection of payments may lead to negative feedback from customers: three quarters of users expect financial companies to take responsibility for safeguarding all their devices and 40% of those surveyed are sure the company will reimburse any lost money. 28% of companies do not care about installing anti-fraud software on customersвЂ™ mobile devices while 30% of companies do not try to protect their own information infrastructure against fraud. Overall, 30% of companies working with cash flows on the Internet do not provide and are not planning to provide protection on customer devices during transactions, even though this is the weakest point in the security chain and could lead to clients losing money and companies losing profits and reputation. E-commerce companies are the least focused on protecting financial operations вЂ“ 16% of them say they are not interested in installing special security solutions against online fraud and only 38% of them are willing to invest in such tools. Even fewer companies in this sector provide protection for their customersвЂ™ devices. Tweet to According to a survey conducted by Kaspersky Lab and B2B International, only 52% of financial companies and 46% of firms engaged in e-commerce believe they need to take enhanced measures to protect financial transactions.