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| Beehive Credit Union to Employ 3 Components of Comodo's Solution Comodo has announced that Beehive Credit Union will employ three components of Comodo's flagship mutual authentication solution to ensure Beehive Credit Union meets FFIEC guidelines for increased verification and security in online banking. A mutual authentication solution is one where the consumer can verify the bank as authentic and vice versa. Most banks use usernames and passwords to verify consumers, but consumers have no way of verifying bank web content as authentic since virtually all existing trust indicators are browser based which can be faked by imposters. The net result is that credit unions and community banks have seen a dramatic increase in phishing attacks in 2006, as recently reported by SC Magazine (June 9, 2006). Beehive Credit Union chose Comodo as its mutual authentication partner because Comodo's credentials and expertise as a Certification Authority uniquely qualify it to deliver new technology for ensuring mutual authentication. Comodo's innovative and patented-pending "See Verify Trust" (SVT) technology is at the heart of the mutual authentication solution and includes authentication processes for both sides of the transaction -consumer authenticating the credit union and vice versa. Beehive Credit Union selected three components of Comodo's mutual authentication solution: * SVT technology is the key element of Comodo's Content Verification Certificates (CVC). These patent-pending digital certificates provide the highest level of site identity authentication available anywhere, yet these certificates are created, distributed and revoked using proven Public Key Infrastructure (PKI) methods and established X.509 standards. CVCs are used to digitally sign and protect specific web content such as site logo, login boxes and rate pages so consumers can verify site authenticity before ANY sensitive information is submitted. Consumers simply roll the mouse over protected web content (e.g. log-in box) and they can verify in real time if the content is genuine to the site it claims to be. If the site is authentic and can be verified, a bright green "good to go" border will be displayed outside the browser environment making this trust indicator impervious to fraudsters and site imposters. To enable verification, consumers utilize Comodo's free digital certificate reader called VerificationEngine. Today, VerificationEngine (VE) can be used to verify the site identity of over 70.000 organizations including financial institutions, government agencies and public companies. * Comodo's InstantSSL Certificates which provide Internet security and verification of business website business legitimacy. Only High-Assurance SSLs certificates which authenticate site legitimacy and enable encrypted sessions should be used by banks for site security and authentication. Unfortunately, fraudsters have taken advantage of the fact that the gold padlock can be procured for non business verified SSL certificates which is why phishing attacks can be launched. With Comodo's High Assurance SSL certificates, Beehive Credit Union's members can feel confident when visiting its website. * In addition, Beehive Credit Union has employed Comodo's email certificates which ensure that when a member receives an email from the credit union, the consumer can be sure that the sender is not a fraudster masquerading as the credit union or a partner. Also, email certificates will be used to encrypt sensitive communications within the credit union so that members' personal information remains confidential and protected. write your comments about the article :: © 2006 Computing News :: home page |