27 Dec 2013

On 11.12.13 – such a special day which happens once in a century the CS Ltd ran a master conference for representatives of the banking sector in Kiev – “Security Day by the CS Ltd”.

The meeting topic was: “Security in the iFOBS online banking: new challenges, new solutions” – it attracted much attention, more than 100 representatives of various Ukrainian banks submitted application forms for participation in the conference.

Protection of online banking systems is literally number one topic this year. And this is not only in Ukraine.

Experts of the Russian company Group IB who had been invited to the conference shared their experience of investigating into information security incidents in Russia, the USA, the CIS, European and Asian countries.   

An officer of the department of counterintelligence support of state interests in information security sphere of the Security Service of Ukraine gave an overview of the Ukrainian situation.

The CS partners representing the world’s leading brands IBM, GEMALTO (NGT Group company), VASCO (SVIT ІТ company) presented the newest software and hardware solutions for fraud control in electronic and mobile banking systems.

A lot of the solutions presented by the partners have been integrated and successfully function in the iFOBS system which is one of the most trusted online banking systems for today.

The leading specialists of the front-office solution department of the CS Ltd told what means for stealing money in internet banking are used by modern defrauders and how the iFOBS is protected against them.

Bearing in mind that malware is constantly improving, cyber attacks become more and more accurate and clients still copy key files to local discs, it is clear that only a comprehensive strategy can provide the necessary level of online banking security.

The comprehensive strategy includes a combination of basic means (safety of data communication channel between a client and the bank, login and password identification, digital signature) and additional means (secure storage of private keys on USB tokens, using one-time SMS and OTP codes in addition to digital signature, setting limits on payment amounts). The comprehensive strategy provides system security at all the levels: external – on the client side and internal on the bank side.

As for providing internet banking security at the bank level the iFOBS.FraudDetection presented at the conference as a system for fraud control by the CS Ltd had been evaluated by 15 banks this year and approved as an effective, really working anti-fraud solution. Oleg Matata head of the bank information security department shared his experience of implementing the iFOBS.FraudDetection in UkrInBank.

A social advertising video by the CS Ltd was shown at the conference for the first time. The video demonstrates how fast, in a blink of an eye, can money be stolen from client’s accounts and encourages to use the additional security package for operating the internet banking.

To summarize Security Day we would like to thank all the participants for a successful and fruitful exchange of experience. We are looking forward to future cooperation.

Photo report of the conference you may see on the CS's official Facebook page.