SOURCE: Payza

Payza

June 13, 2013 08:30 ET

FBI Defeats More Than 1000 Citadel Trojan Botnets, Payza Offers Advice

Payza Members No Longer at Risk Thanks to Company's Compromised Account Prevention Program

LONDON and MONTREAL--(Marketwired - Jun 13, 2013) - The Citadel Trojan, a banking Trojan which infected more than 5 million computers worldwide and used to steal over $500 million from financial institutions, has been brought down by Microsoft and the FBI with the disruption of over a thousand botnets responsible for the theft of personal online banking identity information, Payza notes in "The Internet Just Got Safer, FBI Shuts Down 1,000 Citadel Botnets".

Because Payza is among the world's fastest-growing payment platforms for e-commerce, corporate disbursements and remittances, it has advanced security measures in place to protect its worldwide customer base from such threats.

"Last month, we warned our members about the Citadel Trojan being used to target users of online payment platforms like Payza," explains Ali Nizameddine, Chief Technology Officer at Payza. "This malware was not designed to infiltrate the Payza platform but to trick our members into infecting their own computers and therefore exposing their personal and financial information.

"Having the most advanced security measures protecting our platform is not enough. Education is the key to keeping our platform secure and our members' sensitive information protected, especially when it comes to phishing sites and emails that dupe victims into handing over their personal and financial details." 

Payza's proprietary Compromised Account Prevention program, which combines enhanced security features with on-going customer education regarding the latest threats and the steps they can take to avoid falling victim to cyberattacks, is designed to mitigate potential threats before they become real. Thanks to the right balance between technology and education, there were no confirmed cases of Citadel being used successfully to compromise any Payza accounts.

"Our business is worldwide," Nizameddine added, "and the press reported that users in developing countries might have more security risks than in developed countries. This is not true. Firstly, no matter where you are, whether you're in Canada or in the Philippines, you're just as vulnerable to these cyberattacks. Falling victim to such attacks really depends on your cyber-hygiene. In fact, users in developing countries are more likely to perform regular scans for viruses and malware than those in developed markets. I think that the average user in developed countries has become too complacent and perhaps too trusting that they are always protected."

If Payza members suspect any suspicious sites, emails or transactions, the company encourages them to contact Customer Support right away and file a report on the Payza Security Center page.

About Payza
Payza is one of the world's leading global online payment platforms specializing in e-commerce processing, corporate disbursements and remittances. Payza's highly secure e-wallet platform provides businesses and consumers with convenient and flexible solutions for sending and receiving payments worldwide. The company offers access to payment services in both traditional and emerging markets, as well as a host of tools and services including: fraud screening, dispute resolution, currency exchange, global payouts and disbursement services. With over 9 million members, Payza offers its services around the world in 21 currencies, and is proud to provide its merchants around the globe with a complete solution for accepting payments and managing their businesses. More information is available about Payza on its website, www.payza.com, Facebook, Twitter and on the company's blog.