Internet Security Software.

     
Safewww Inc. Introduces Internet Security Software to Protect Banks, Financial Institutions and Their Customers from Transactional Fraud.

UNIONDALE, N.Y.--(BUSINESS WIRE)

IDshield(TM) Online Banking and E-Payment Authentication System Helps Businesses Eliminate User Identity Theft and Build Customer Confidence

With increasing concerns of Internet fraud in a world where online banking and e-payment options are growing, having an easy-to-use, secure way of making financial transactions is a must.

Safewww Inc., provider of identity protection and authentication products for business and personal Internet transactions, today announces its IDshield(TM) Online Banking and E-Payment Authentication System, an authentication software solution aimed at protecting both online businesses and their customers against fraud.

According to Meridian Research, Internet fraud will grow from $1 billion in 1999 to $40 billion in 2004. IDshield lowers the risk of fraud by providing users with a low-cost, easy-to-use, secure software product that protects from hacking and identity theft when banking or executing financial transactions online. Also, unlike many other options today, this software solution requires no additional hardware for the consumer - such as smart card readers or e-tokens - aside from a PC in order to protect user identities.

"Online banking and e-payment systems offer the dream of expanded e-commerce opportunities for both businesses and consumers. Unfortunately, payment fraud and identity theft can turn that dream into a nightmare for both merchant and consumer," said Kenneth Bob, CEO of Safewww Inc. "IDshield provides an easy to deploy system that protects all parties, thwarting the hackers and Internet con men."

How it Works

After a customer has registered to use IDshield, the Authentication Agent is downloaded and installed from the IDsafe server onto the customer's computer. During this installation, which is transparent to the customer, a unique hardware signature is created and securely stored on both the customer's computer and on the IDsafe server.

Every time the customer requests authentication in order to protect a transaction, the Authentication Agent checks to ensure that the hardware signature on the customer's machine matches the signature on the IDsafe server. The customer is also required to enter a personal password to ensure that someone else isn't attempting to be authenticated at the customer's computer. If the results match, the customer is authenticated and may continue their transaction. This easy process takes seconds and adds an unprecedented layer of personal security. The IDshield patent pending technology prevents a hacker from stealing a consumer's identity even if they manage to discover some of their confidential information.

IDshield provides an audit log of all access attempts - both authorized and unauthorized - as well as all system usage. The system integrates seamlessly with a bank's or Web merchant's existing online transaction applications.

Secure and Impenetrable

Safewww's patent-pending IDshield provides an additional layer of security on top of the existing banking or e-business transaction system. It cannot be hacked, spoofed, or copied onto another computer, making it secure and impenetrable to unauthorized parties.

This system has passed technical analysis by independent, international organizations including Israeli security consultant Comsec Group Ltd. (TASE: CMSC). According to Comsec, the ease-of-use of this simple system takes nothing away from its security. "Compared to popular PKI solutions, the overall authentication mechanism of Safewww's system provides no less security, while being less cumbersome and cheaper to integrate," said Nissim Bar-El, President and CEO of Comsec Group.

About Safewww Inc.

Founded in 1999 by Israeli Internet security entrepreneurs, Safewww Inc. provides identity protection products and services for business and personal Internet transactions. With corporate headquarters in the U.S. and a research and development center in Israel, Safewww has established strategic alliances and received investment capital in the U.S., Israel, Spain, China, and Argentina. Its target online markets include banking, B2B exchanges, digital music and video, auctions, store cards, and gaming. Utilizing patent pending third-party user authentication and content encryption technology, Safewww's impenetrable and simple-to-use solution allows Internet transactions to achieve the utmost in security without the need to transmit confidential information over the Internet. For more information please see Safewww's Web site at http://www.safewww.com.

For sales information on Safewww contact Ken Bob at (516) 390-4790 or go to http://www.safewww.com