Product Addresses Growing Market Demand for Covert Internet Fraud Detection While Helping Banks Meet FFIEC Compliance
SCOTTSDALE, AZ -- (AllPayNews) -- July 10, 2006 -- The 41st Parameter, a leader in agent-less, covert fraud detection and prevention for the online channel, today announced the availability of its latest product, PCPrint. Designed to identify and pinpoint legitimate versus suspect PCs visiting a website in real-time, PCPrint invisibly collects a device "fingerprint" of any online machine based on more than 40 parameters. Offered as an OEM license option, the product will be the world's first standard to help online businesses combat Internet fraud and identity theft. PCPrint was developed in direct response to increasing market demand for a real-time, covert fraud detection and prevention standard that will enable the tracking of machines used for online fraud. The Company is currently in negotiations with a number of top tier banks, online merchants, payment processors, authentication solution providers, government entities and industry vendors.
"The most-effective fraud prevention systems are sometimes the least visible," said Avivah Litan, research vice president, Gartner(1). "The crooks can't plan attacks against fraud detection and prevention methods that they can't see and analyze."
Unlike other PC identification technologies that are only accurate enough to establish that a visiting PC is unfamiliar to an account, PCPrint is designed to differentiate individual PCs visiting a website regardless of past registration, the credentials presented or the Internet connection (IP Address). Capable of generating 1.461 quindecillion (or 10 to the 48th power) unique device "fingerprints," the product can identify legitimate versus suspect PCs with unprecedented accuracy.
"Creating a de facto standard for precision PC recognition will allow businesses to dramatically improve their ability to block unwanted PCs on their websites and share bad PC information to prevent future attacks," said Ori Eisen, founder and CEO of The 41st Parameter. "It will also help financial institutions fast-track their progress on meeting the FFIEC guidelines by the end of the year, and is a critical milestone towards our mission of making fraud history."
For more information about licensing The 41st Parameter's technology please send inquiry to firstname.lastname@example.org.
About The 41st Parameter
As the pioneer of covert, agent-less fraud detection and prevention technologies, The 41st Parameter offers highly accurate, non-intrusive fraud control measures for the online channel. By continuously collecting new and unique parameters from end-user computers during online account access, the Company's patent-pending technologies enable forensic identification of devices to monitor suspicious or fraudulent account activity and help protect sensitive customer data. The 41st Parameter's products have "zero imposition," requiring no action or behavior change on the part of the consumer. To find out how the company is making fraud history, please visit www.the41.com.
(1)Gartner: "HSBC Bank Brasil Turns to Back-End Fraud Detection to Curb Cybercrime," June 2, 2006.
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SOURCE: The 41st Parameter