nProtect and SK Telecom Sign Security Cooperation Agreement to Fight Smishing

SAN JOSE, Calif. - June 26, 2013 - PRLog -- San Jose, CA—nProtect (www.nProtect.com), specializing in information security, has signed an agreement to share information on Smishing with SK Telecom (www.sktelecom.com), largest telecommunications company in South Korea, to promptly respond to mobile security threats.

Both companies have agreed to cooperate by establishing a sharing system of their unique expertise and infrastructure. Which will help to detect Smishing fraud SMS early on and minimize the fraud damage on mobile payment.

Through this agreement, both parties will be able to lay the foundation to jointly respond to the ever increasing and sophisticated smart phone security threats. Also both parties will continually expand and cooperate with related organizations to find a win-win model for all.

Smishing criminals thrive on the curiosity of smart phone users by sending malware install SMS with diverse texts that catch the attention of the users. Recently, they are sending messages that are cleverly disguised to be from well known institutions.

For example, they are disguised as an attend request from the court or as IRS refund details. Every day, different kinds of fraud SMS are being created to feed on the victim’s psychological weak spot.

The Smishing information sharing agreement will operate based on the response team(ISARC) of nProtect. With new threat information gathered by mobile security management, data gathered by Smishing prevention application, and combined with spam block system of SK Telecom, a security service that minimizes client loss from the latest Smishing threats will be in effect.

This kind of information sharing agreement between nProtect and SK Telecom is a good model case for partnership between large and small firms and allows users to freely use smart phones without having to worry about ever more sophisticating Smishing threats.

Smishing prevention application by nProtect has been designed to block the source of Smishing. It has been designed based on the analysis of Smishing data that had been gathered since last year. Enabling it to automatically analyze and detect Smishing threats that are newly developed and even threats that have not yet been found.

About nProtect, Inc.

Founded in January 2000, nProtect, also known as INCA Internet, is headquartered in San Jose, California and provides online and mobile banking/payment security to financial institutions. Over 100 million endpoint users from more than 1,020 organizations rely on nProtect’s online security solutions to secure their computer and mobile devices against malware, phishing, and number of other security threats while meeting regulatory compliance requirements such as FFIEC Guidance.