SOURCE: Bharosa

January 17, 2007 03:00 ET

StrikeForce Technologies Teams With Bharosa to Deliver Advanced Fraud Protection for Consumers

Joint Solution to Help Financial Institutions and Online Retailers Thwart Newest Identity Theft Schemes

SANTA CLARA, CA and EDISON, NJ -- (MARKET WIRE) -- January 17, 2007 -- Bharosa and StrikeForce Technologies Inc. (OTCBB: SKFT) today announced plans to deliver advanced security solutions to combat the growing threat of consumer identity theft and fraud on the internet. Bharosa will enable StrikeForce to provide real-time fraud detection to its existing ProtectID™ Strong Authentication Platform, to safeguard consumers' online identity and transactions using a phone as a second form of "Out-of-Band" authentication, as well as other two-factor methods provided on StrikeForce's ProtectID Platform. The joint offering will provide financial institutions and online retailers with the robust arsenal of security tools they need from A-Z, to protect consumers while complying with industry security guidance and regulations.

As part of its security strategy, StrikeForce will OEM fraud detection capabilities from Bharosa to provide an enhanced offering for its rapidly growing customer base including market leaders like Financial Services Inc. (FSI). Bharosa, an award-winning, privately held Silicon Valley company has quickly joined the ranks of the industries' largest security providers and is now securing over 17 million users in over 1,000 enterprises worldwide.

"In a continually shifting threat landscape, financial institutions must provide the most advanced, yet user-friendly forms of identity theft protection," said Mark L. Kay, CEO of StrikeForce Technologies. "StrikeForce will combine Bharosa's products with its own ProtectID Platform to offer enhanced, complete, yet seamless protection against the most sophisticated fraud attacks."

Consumer anxiety about internet security caused a $2 billion loss in e-commerce and banking transactions in 2006, according to Avivah Litan, vice president and analyst at Gartner. Litan said that organizations are going to have to work to regain consumer trust.

Using Bharosa and StrikeForce together, companies can defend against the latest online threats, including account takeover schemes and man-in-the-middle attacks to restore trust in internet transactions. The combined offering will utilize advanced authentication and fraud detection to score risk and alert organizations in real time to potential fraud threats. In addition, the Bharosa/StrikeForce solution enables companies to employ a range of security options, including out-of-band phone authentication, to meet diverse user requirements or upgrade to higher levels of protection as threats increase without reinvesting in infrastructure.

"In 2007, financial institutions and online retailers will need to step up their security efforts to keep pace with new fraud schemes, increased pressure from industry regulators and consumer demands," said Jon Fisher, Bharosa CEO. "Bharosa enables world class information security providers like StrikeForce to bring best of breed identity theft solutions to market so companies can balance security and usability requirements while staying one step ahead of the most sophisticated fraud threats."

About Bharosa

Bharosa is a global provider of proactive, real-time fraud detection and multifactor online authentication security solutions for the enterprise. Bharosa's Tracker product works behind the scenes to verify a host of factors used to confirm a user's identity, including the user's computer, location and online behavior. Tracker scores risk through a unique and proprietary "gated" security method and responds to risk in real time by increasing online security. Tracker offers strong asset and transaction authentication security that can be implemented without requiring any change to the online experience.

Another Bharosa enterprise product, Authenticator, protects sensitive data from Phishing, Trojans and Proxy-Based Fraud. Tracker and Authenticator together form the organization's most powerful weapon in the fight against online identity theft.

Bharosa, Inc. is a privately held company founded in May 2003 and headquartered in Santa Clara, California. More information is available at www.bharosa.com.

About StrikeForce Technologies

StrikeForce Technologies, a leader in solutions that helps prevent identity theft, is a company that can protect consumers, customers, partners and employees -- in real time against identity fraud. Its total protection solution strengthens companies' defenses against the biggest points of fraud -- when the internet is accessed, when accounts are opened, when they're accessed, when they're changed, and each time there's a new transaction. StrikeForce Technologies is trading on the OTC bulletin board (SKFT) and the company is headquartered in Edison, N.J., and can be reached at www.strikeforcetech.com or (866) 787-4542.

Contact Information

  • Press Contact for Bharosa:
    Lorraine Kauffman-Hall
    Bharosa
    Email Contact
    (704) 882-0443

    Press Contact for StrikeForce:
    Steve Capoccia
    (212) 292-4919
    Email Contact

    Investor Relations for StrikeForce:
    Piedmont IR
    Darren Bankston
    (678) 455-3696
    Email Contact

    Strategic Growth International
    Richard Cooper
    (212) 838-1444
    Email Contact