|RAAS(TM) Technology Implements "Reverse Authentication" of Bank Server by the Bank Customer Before the Customer Authenticates Him/Herself to the Bank Server|
Internet Promise Group LLC, a research and development enterprise, announced that it has filed a patent application for a new technology that eliminates phishing. The technology is named RAAS(TM) and uses a concept of "reverse authentication," where a bank customer is able to authenticate a bank server before authenticating him/herself to the bank server.
Tara Chand, Esq., BSEE, MSSE, CISSP, founder of Internet Promise Group(R) LLC, a research and development enterprise (www.InternetPromise.com) said, "RAAS easily, effectively and inexpensively solves the problem of phishing and spoofing for financial institutions, a problem that has bedeviled the business and banking community for years without a viable solution."
Mr. Chand said, "Information Technology enables many new and creative ways that are used and may be used to spoof a secure web page from a bank server and that each and every part of a web page can be faked. The bank customer then has no clue if the web page in which they are about to enter their personal online banking identity data indeed did originate from the bank server. For this security issue, the industry has coined the term 'phishing,' which implies fishing for and stealing online bank identities. The industry has seen that the phishing scams are ever growing and ever so sophisticated by being automated that they had to form an anti-phishing organization to measure the extent of the problem."
To counter this security menace, the technology of Reverse Authentication was developed by Internet Promise Group. The Reverse Authentication technology is based on the premise, why anyone would trust or should not trust entering their personal data on a web page without a foolproof assurance that it has not been spoofed.
Hal Tipton, with unequalled credentials in the information security industry, being, Past-President of the International Information System Security Certification Consortium, Past-President of the national organization of ISSA (1987-1989), added to the ISSA Hall of Fame and the ISSA Honor Role in 2000, member of the National Institute for Standards and Technology (NIST) Computer and Telecommunications Security Council and the National Research Council Secure Systems Study Committee (for the National Academy of Science); said about RAAS, when it was presented to him by Mr. Chand, "RAAS is a very viable and strong solution for the phishing and spoofing issues that the industry continues to struggle with. Mr. Chand has done remarkable work in innovating and developing RAAS by addressing every known technology and implementation issue from the perspective of the customer, the financial institution and even the hacker, thereby making RAAS cost effective to deploy and easy to use by the bank customers, yet keeping hackers at bay for the foreseeable future."
Internet Promise Group LLC, is a privately funded research and development enterprise, active in developing new security technology solutions across a large spectrum of security issues in, authentication, wireless encryption, network security, computer network defense, secure payment systems, and identity data theft. Mr. Chand is also President of Cyber Secure Inc. Mr. Chand focuses his creative talents on developing new technology solutions that will stand the test of time, are cost effective and easy to use and deploy by the participants; and are not simply incremental improvements in current technologies as in the current information security history.