Major Mobile Banking Security Flaws Identified and Solved with SnoopWall's Privacy Shield™

NASHUA, N.H., Aug. 27, 2014 /PRNewswire/ -- SnoopWall (www.snoopwall.com), the world's first counterveillance security software company, announces the launch of Privacy Shield™, a powerful patent-pending counterveillance engine designed to shield your financial application from eavesdropping by malicious apps on your device and from cybercriminals in close proximity intercepting the transmission of sensitive information.   

"While banks want to give customers an online banking experience, it's not secure.  Imagine standing in front of an ATM surrounded by criminals (malicious apps) who can see everything you do and they will hold you at gunpoint and take your wallet and one day drain or empty your account," said Gary Miliefsky, CEO of SnoopWall, and a CISSP and member of ISC2.org. 

With nearly $100 billion in Identity Theft in the USA in the last 4 years, of which last year accounted for almost $25 billion, alone, (source: U.S. Department of Justice, Javelin Strategy & Research), it is evident that current methods of providing security for sensitive information like encryption and multi-factor authentication are not working. 

"We designed Privacy Shield to offer an ATM-like experience from your mobile device – private, safe and secure," said Mark Laich, VP of Sales, SnoopWall. "Banks gain competitive advantage by offering their customers the ease of mobile banking, but consumers are wary of using mobile banking apps due to security risks.  Privacy Shield gives banks a complete win-win in increasing customer satisfaction, lowering operational costs, and reducing their financial liabilities."

SnoopWall's Privacy Shield has been embedded into over 100 credit unions' mobile apps via  http://www.cumobileapps.com in recent months.  SnoopWall discovers and protects against several flaws in online banking applications which allow spoofing, eavesdropping and stealing of passwords, location, scanned check deposits, bank account and routing information, names and addresses.

The SnoopWall's Privacy Shield™ can easily be embedded in any financial application such as mobile banking, mobile payment, or mobile wallet applications, and provide a 'trusted connection' so that information such as passwords or account numbers can be transmitted securely.  SnoopWall's Privacy Shield technology works where antivirus, firewall, encryption and multi-factor authentication fail because criminals can't steal what they can't access.

To learn more about Privacy Shield, visit http://privacyshield.snoopwall.com  or email [email protected].

About SnoopWall
SnoopWall is the world's first counterveillance software company focused on helping consumers and enterprises protect their privacy on all of their computing devices including smartphones, tablets, and laptops. SnoopWall augments endpoint security (antivirus, firewall, intrusion prevention) through patent-pending technology that detects and blocks all remote control, eavesdropping and spying, thereby preventing data leakage while increasing device battery life/performance. SnoopWall's software is proudly made in the U.S.A. and is part of the growing suite of next generation security products being delivered by SnoopWall and their OEM partners.  Visit snoopwall.com and follow us on Twitter: @SnoopWallSecure.

Media Contact:
Nancy Rose Senich
202-262-6996 cell/txt
[email protected]  

SOURCE SnoopWall, LLC