Bank of Cyprus UK announces it is working with Trusteer to launch an additional security service to its customers as of today Wednesday 8th December 2010.

 Available as a free download, Trusteer’s Rapport secure browsing service can be installed on a customer’s personal PC to lock down the browser and create a safe tunnel for communication between the customer and Bank of Cyprus UK, preventing fraud.

Bank of Cyprus UK supplies its customers with a Digipass® as part of its three pronged approach to security. Rapport is being introduced to complement this technology and provide extra confidence to those using its online banking facilities.

Should a fraudster attempt to take over a user’s account Rapport issues an alert of the unusual behaviour immediately, allowing the Bank of Cyprus UK to take action and prevent loss.

 Soteris Antoniades, Assistant Chief Executive - Service for Bank of Cyprus UK said, “We short-listed and evaluated two products and Trusteer won hands down. The other solution was complicated, requiring the customer to perform various additional actions, potentially alienating customers and defeating the object. Instead they simply install Rapport, it runs discreetly in the background without any further customer interaction, customers continue with their usual online behaviour, only now it’s secure. What’s really special about the technology is, while it appears simple to the customer, it’s a very sophisticated technology providing detailed intelligence that we can use in our continuing efforts to thwart attacks.”

“By selecting Trusteer, Bank of Cyprus UK is sending a message to its customers that it takes security very seriously, and is doing everything possible to keep them safe and secure¨ said Mickey Boodaei CEO of Trusteer. “We continue to work with Bank of Cyprus UK, as we do with all our clients, to provide a holistic approach to online fraud by preventing incidents at the point of attack while investigating their source to mitigate future attempts. Individuals are increasingly aware of the dangers online, however the fraudsters are deploying ever more sophisticated attacks to trick Joe Public.  Luckily by working with enlightened organisations like Bank of Cyprus UK, we can help identify these scams and avoid people falling foul.”

Trusteer secures online banking

A light-weight security software that downloads onto the customer’s computer in minutes, Rapport works in the background and doesn’t call for a change in user behaviour. The solution comes with an application that enables financial institutions to effectively trigger alerts, view and analyse data as well as manage security.

When a Trusteer user browses to the Bank of Cyprus UK website the service immediately locks down the browser. This prevents malware from injecting data and stealing information entered and presented in the browser. Trusteer also removes malicious financial malware it discovers on protected machines. The service is directly connected to the bank and to a 24x7 fraud analysis service. Attempts to steal money from customers are immediately detected by the bank and are blocked using various layers of protection.

 ENDS

About the Bank of Cyprus UK

Bank of Cyprus has been established in the UK since 1955. We are a division of Bank of Cyprus Public Company Limited which is based in Cyprus.

Over time Bank of Cyprus UK has evolved into a focused business bank serving the needs of a diverse customer base of small and medium sized businesses from centres in London (2) and Birmingham, and a Corporate office in Central London.

To support its business banking activities, Bank of Cyprus UK offers a range of consistently competitive fixed term deposit and savings products. Currently nearly 90% of UK funding comes from UK customer deposits.

In addition to state of the art telephone and online banking services, business customers of Bank of Cyprus UK also have access to the Lloyds TSB UK branch network for their counter service needs.

Drawing from a talent pool with significant experience in advising and supporting small businesses across a range of sectors, Bank of Cyprus UK has the expertise and knowledge to comment or provide articles on a broad range of industry issues.

For more information, please see www.bankofcyprus.co.uk

About Trusteer

Trusteer, the world’s leading provider of secure browsing services, helps prevent financial malware attacks through its Rapport and Flashlight services. Trusteer Rapport enables banks and online businesses to protect sensitive data such as account holder credentials from malware by locking down the browser and creating a tunnel for safe communication between the web site and customers’ machines. It also prevents phishing by validating site authenticity. Trusteer Flashlight allows remote, effective, and instant investigation of malware-related fraud incidents. Trusteer’s solutions are used by more than 70 leading financial organizations in North America and Europe and by more than 15 million of their customers. Trusteer is a privately held corporation led by former executives from RSA Security, Imperva, and Juniper. Follow us on www.Twitter.com/Trusteer. For more information about our products and services, please visit www.trusteer.com.

Digipass® is a registered trademark of VASCO Data a Security Inc., who retain ownership of the mark and reserve all their intellectual property issues.