New innovation in cyber security stops bank account hacking

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Australian start-up and technology innovator BankVaultOnline.com discovers unique new approach to thwart hackers during critical online transactions such as banking.

bankvault_logoBankVault came to prominence in December with the release of the BankVault Key, a physical computing micro-device to lock down computers during critical online transactions like banking. BankVault has released a Business version for SMEs, an App version for small business professionals and a Web service for individuals.

“Simple, clear security is now within reach of anyone who needs certainty they are invisible and out-of-reach from hackers, even if the PC they use has been compromised”, says Graeme Speak CEO and Founder of BankVaultOnline.com.

“When you look at all the vulnerable activities Australian’s do online—banking, shopping, trading, dealing in personal or private information, making transactions—or anything else, the end user’s computer is always the weakest link.”, says Mr Speak. “Endpoint devices represent the vast majority of hacker successes. If a hacker gets into your PC they can get your login credentials, your identity and everything you have”.

“We are forced to trust our PC yet the weekly security updates prove we are perpetually insecure. No single party can ensure all the software you run is faultless, and anti-virus software is always behind and cannot stop the new bread attacks that are now coming in via your browser,” says Mr Speak.

BankVault provides certainty through its simplicity. “We don’t need to solve all the cyber security issues with your PC if we go in the opposite direction and create a secret and pristine new system that you only use temporarily. They can’t hack something that doesn’t yet exist”.

The Australian Signals Directorate recorded $1.2 Billion in cybercrime in 2015. At the same time Cisco’s Cyber Division which reports to the Prime Minister estimate the problem is 17x larger than what’s reported. The global problem today is $500 Billion and predicted to reach $2 Trillion in 2019. Most is concentrated in First World countries and Australia leads the world in adoption of online banking and Internet commerce making it a first target for the most sophisticated and hardened criminal cyber gangs.

BankVault’s approach works by creating a pristine new virtual machine at a remote and random Internet address. This is built in just 2 seconds in the cloud and is completely independent from the end user’s computer (or device) and displays on screen via a Web page, an App or a USB device. When the session finishes the virtual machine evaporates without trace. Whatever the user has done online was invisible and out-of-reach to hackers.

New: BankVault-Web runs in a browser allowing email attachments or hazardous websites to be opened with complete immunity. Whether using a shared computer lab on campus or an unpatched PC at home, users can bypass everything a hacker may have installed, even key-loggers.

NewBankVault-App addresses the high performance demands of business professionals working alone or from small offices. It provides a snappier experience and ensures the user is secure, anonymous and untraceable.

BankVault-Business is a physical USB device (BankVault Key) which is inserted into the local PC. It takes over and controls the entire system’s hardware during the online transaction, as well as interfacing with local accounting software for transferring banking payment files. It is an absolute solution to sidestepping hackers.

BankVault simply adds to the security, like 2FA, provided by banks. It hardens the endpoint device, the local PC, which is the primary target for cyber hackers. ”You can’t hack something that doesn’t exist”.

Learn more: www.BankVaultOnline.com

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