Retail giantÂ’s finance division introduces anti-fraud software to increase online protection for its internet banking customers

Retail giant’s finance division introduces anti-fraud software to increase online protection for its internet banking customers

Co-operative Financial Services (CFS) has launched a new free service that protects its customers against the threat of online attacks from fraudsters and cyber criminals.

The service, called Trusteer Rapport, provides customers with additional protection for their personal information when they use their computer to access their bank account online.

Rapport will also warn customers of further risks such as phishing attacks; prevent Trojans from capturing their details and inhibit any interference with online communications.

Added layer of protection

While many people protect their PCs using firewalls and anti-virus software, these solutions alone are often not enough. The sophistication of financial malware, such as Zeus and SpyEye, means individuals can often be unaware that their PC is infected and that confidential information, such as passwords and personal details, are at risk.

Tony Sellers, financial crime management business leader at Co-operative Financial Services, said: “We continually review security to ensure our customers have the highest levels of protection against fraud and can safely conduct their banking online.

“The link up with Trusteer will help make internet banking even more secure and provide our customers additional peace of mind when banking online.”

Safeguarding brand reputation

Mickey Boodaei, chief executive of Trusteer, added: “The Co-operative Bank (including smile) is a highly trusted financial institution, and providing the additional security to their customers which is simple to use but highly sophisticated, keeps them ahead of the cybercriminals.

“Rather than complicating the online banking process, we’ve designed Trusteer Rapport to work transparently so that customers won’t even realise they are blocking fraudsters out of their online sessions.

“Working together as a team - financial institutions, the general public and security professionals alike, we can help prevent criminals stealing money and credentials and effectively cut off the supply chain. That has to be applauded.”

Trusteer Rapport locks down the browser and creates a safe tunnel for communication between the customer and their financial institution, helping to prevent fraud.

As lightweight security software that downloads onto the customer’s computer in minutes, the provider said Trusteer Rapport works in the background and does not require a change in user behaviour. The solution comes with a rich management application that enables financial institutions to effectively trigger alerts, view and analyse data as well as manage security.