Authentify Releases EFT Verifier™ to Thwart
Unauthorized Electronic Fund Transfers by
Criminals Employing ZeuS Malware
Authentify EFT Verifier™ Protects Accounts Compromised by ZeuS Malware Preventing the Wrong
People Armed with the “Right” Information from Transferring Money from an Account
April 07, 2010 03:55 PM Eastern Daylight Time
CHICAGO--(EON: Enhanced Online News)--Authentify, the leader in phone based, totally out-of-band
authentication, TOOBA, released its ETF Verifier™ application enabling financial applications and payment
platforms to alert account owners whenever a new funds transfer destination is added to the user’s account. The
process permits the account owner to cancel a transaction they have not initiated.
Malware “loggers” like ZeuS capture everything typed on a user’s keyboard including bank account numbers and
passwords. A criminal must still get funds out of the account. Electronic funds transfer via wire transfer or e-payment
applications have become the attack point. Adding a payee account number at an account the fraudster controls is
the final step.
“If I break into your home and steal jewelry, I still have to 'fence' the items to get cash,” according to Peter Tapling,
Authentify’s CEO. “The fraudsters must still turn those logged keystrokes into cash. Stop them from adding a new
payee or transfer number to a compromised account and you stop the theft.”
Authentify’s ETF Verifier™ can be invoked whenever a new payee is added to an online payment or wire enabled
account. The Totally Out-of-Band Authentication process or TOOBA, sends an XML message to Authentify’s
telephony service center. The message triggers a phone call to a telephone number for the account owner.
Transaction details including payee identification is repeated via phone to the account owner and allows the user to
approve or cancel the transaction via the telephone keypad.
“If you’re not using your account and you’re called regarding a transfer, you know something is wrong,” according