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  • Finjan Software GmbH
  • Alte Landstrasse 27
  • 85521 Ottobrunn
  • Ansprechpartner
  • Neil Stinchcombe
  • +44 (208) 449-1007

Finjan says new report reveals additional details on the real cost of fraud to companies

(PresseBox) (Farnborough, United Kingdom, ) Finjan Inc., a leader in secure web gateway products, says that a newly issued report from CyberSource - which clams to show that one in eight online UK firms are losing more than five per cent of their revenues to fraud - illustrates the phenomenal cost that card fraud is costing UK organisations.

"We at Finjan believe that a pound spent on effective IT security in a business is rewarded with cost savings in many other areas several times over", said Yuval Ben-Itzhak, Finjan's Chief Technology Officer.

"The UK edition of the CyberSource Online Fraud Report notes on the lack of co-ordination and government support in the fight against fraud. This all confirms our strategy that investing in anti-fraud IT security technology really is worth its weight in gold," he added.

According to Ben-Itzhak, in the absence of the report's recommendation of the creation of a centralised anti-fraud body to co-ordinate efforts across the financial and enforcement industries, it is clear that companies are largely on their own when comes to planning an effective strategy to beat financial fraud.

This doesn't mean that the war is lost, he noted. Far from it. Technology exists to significantly mitigate risk of a company's anti-fraud systems being breached and a fraud costing the firm large amounts of money, he explained.

"Carefully planned and executed effective anti-fraud strategy need not cost the earth, but the emphasis has to be on planning and working with your IT security supplier on developing the strategy. Then, once a good system is installed, it is equally essential to maintain the systems' efficacy," he said.

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About MCRC

Malicious Code Research Center (MCRC) is the leading research department at Finjan, dedicated to the research and detection of security vulnerabilities in Internet applications, as well as other popular programs. MCRC's goal is to stay steps ahead of hackers attempting to exploit open platforms and technologies to develop malicious code such as Spyware, Trojans, Phishing attacks, worms and viruses. MCRC shares its research efforts with many of the world's leading software vendors to help patch their security holes. MCRC is a driving force behind the development of next generation security technologies used in Finjan's proactive web security solutions. For more information, visit our MCRC subsite.

Finjan Software GmbH

Finjan is a global provider of web security solutions for the enterprise market. Our real-time, appliance-based web security solutions deliver the most effective shield against web-borne threats, freeing enterprises to harness the web for maximum commercial results. Finjan's active real-time web security solutions utilize patented behavior-based technology to repel all types of threats arriving via the web, such as spyware, phishing, Trojans and obfuscated malicious code, securing businesses against unknown and emerging threats, as well as known malware. Finjan's security solutions have received industry awards and recognition from leading analyst houses and publications, including Gartner, IDC, Butler Group, SC Magazine, CRN, ITPro, PCPro, ITWeek, Network Computing, and Information Security. With Finjan's award-winning and widely used solutions, businesses can focus on implementing web strategies to realize their full organizational and commercial potential. For more information about Finjan, please visit: