ZeuS and Other Malware Threats Force Authentication to "Step Out" Of Band

ZeuS and Other Malware Threats Force Authentication to "Step Out" Of Band
Malware like ZeuS has rapidly outpaced all other banking security threats, and according to a recent survey by PhoneFactor is regarded as the greatest threat to online banking today. Because malware has evolved to defeat most security measures currently in place, financial institutions must likewise evolve their security practices to stay ahead of these threats. Regulators are following suit with an update to the FFIEC guidance on Authentication in an Internet Banking Environment expected soon.

As malware has become more pervasive and more sophisticated, out-of-band authentication and transaction verification have taken on a new level of importance for financial institutions and regulators. Instead of trying to rid the world of malware, institutions can simply circumvent malware by "stepping out" of band to authenticate transactions.

Join PhoneFactor CTO Steve Dispensa and Vice President of Marketing & Product Management Sarah Fender for this empowering webcast as they:

  • Share Insights From Their Latest Research On Online Banking Security;
  • Dissect Current Malware Threats and Present The Latest Best Practices for Mitigating Them;
  • Explore The Role Of Out-of-Band Authentication and Transaction Verification in Preventing Fraud.


Real-time attacks from malware like ZeuS have rapidly become online banking's number one security threat. As malware continues to evolve so must the security measures employed by financial institutions to protect online banking customers. Countless banks have learned the hard way - many unfortunately after a successful attack - that the security they had in place was not sufficient. A number of banks have already added measures, such as out-of-band authentication and transaction verification, to their online banking applications, realizing the importance these methods have in preventing online fraud.

The FFIEC is expected to endorse these practices in an upcoming update to the Guidance on Authentication in Online Banking, which is due out shortly. In addition to calling for a strengthening of authentication mechanisms, such as out-of-band, the updated FFIEC Guidance is likely to recommend a layered security approach that applies security controls to both logins and transactions.

PhoneFactor CTO Steve Dispensa and Vice President of Marketing & Product Management Sarah Fender will explain to you why "stepping out-of-band" is so important. They will start by sharing data from PhoneFactor's recent Survey on Online Banking Security, which polled financial services professionals from more than 70 financial institutions regarding the threats facing online banking today, what banks are doing to protect their customers and perceptions about the role security plays in customer loyalty.

Steve and Sarah will also talk in depth about ZeuS, SpyEye, and other malware that is prevalent in the banking industry today. This includes how these attacks work, how they continue to transform, and how you can best mitigate against them. They will also explain why phone-based out-of-band authentication, like that provided by PhoneFactor, is a best practice in the fight against malware.

This discussion will leave you with an understanding of the value of layering transaction verification on top of out-of-band authentication to prevent online banking fraud. It is well worth your time to learn why you should "Step Out" of Band.

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