TRICIPHER APPOINTS NEW TEAM IN EMEA TO STRENGTHEN INTERNATIONAL POSITION

Leaders in protection against identity fraud and theft address EMEA's need for authentication

TriCipher, the leading US provider of strong credential management, today announced its entry into the EMEA market with a dedicated team in the UK to offer online users maximum protection against fraud and identity theft.

David Franklin, former VP of Sales for nCipher, has assumed his new position as VP of EMEA. He brings 16 years' experience driving and managing sales operations for global organisations, and joins TriCipher to design and manage sales and growth strategies throughout EMEA.

The company also announced that Garry Sidaway, former Head of Product Marketing and Business Solutions for Cybertrust, joins TriCipher as Principal Consultant in the UK. Garry has a strong proven track record in advising major organisations on risk management and business continuity.

There are 18 million users of online banking in the UK and there has been considerable growth over the last six years in particular. As the number of online bankers grow, so too does the regularity and complexity of PC attacks capable of identity fraud and theft. In fact, online fraud has risen 50 per cent in the last year reaching a staggering £33 million. TriCipher provides a unified authentication infrastructure to protect the B2B and B2C online channel against fraud and identity theft.

'TriCipher has all the right solutions needed to become the leading player in the online security market as cybercrime becomes more sophisticated. The company is well positioned to capture a major share of the authentication market and in my new role as VP of EMEA, and with the addition of a respected colleague and companion in Garry Sidaway, we look forward to introducing TriCipher's solutions more deeply into the European community,' said Franklin.

John De Santis, Chairman and CEO of TriCipher commented: "Cost and inconvenience have been deterring European banks, retailers and e-commerce organizations from moving more of their business online. TriCipher has created a powerful single platform able to handle the full range of credentials - from the weakest password to the strongest smart card - in a way that is neat, secure and cost effective. Through our breakthrough technology we have increased the strength of credentials, lowered their cost and made them much more convenient to deploy than ever before. For the first time institutions can build up their online business safe in the knowledge that there is a future-proof and effective solution to support them."

About online fraud and identity theft:

In a recent consumer survey conducted by MORI (for database security provider, Secerno) it was shown that 91% of UK consumers are concerned about security of their personal data and 45% feel that online banks and retailers are not doing enough to protect their personal data. Phishing emails are a familiar and irritating form of attack - but the challenge now to online safety comes from newer targeted types of attack. Man-in-the-Middle attacks which completely defeat one-time passwords have already caused significant losses at major financial institutions such as Citibank, ABN AMRO and Nordea. Now Man-in-the Browser attacks are emerging that can disarm even Smart Cards and PKI by modifying the transaction in the browser after the user authentication has taken place. The full implications of this to business should be a matter of great concern.

About TriCipher:

TriCipher, Inc. protects high value online portals, their users and the business processes that run on them against fraud and identity theft. The TriCipher Armored Credential System (TACS) is the first credential management system that enables companies to deploy and manage multiple types of credentials from a single infrastructure. Through this flexible 'Authentication Ladder', TriCipher protects customer investment by adjusting authentication strength to defeat new threats and to meet regulatory changes without the need to implement a new infrastructure. Founded in 2000, TriCipher is headquartered in Los Gatos, California, and has its UK offices in X. Its customers include Allied Irish Bank; Advanced Payment Solutions UK; Abu Dhabi Investment Authority; OneHealthPort; Digital Insight; Merchant eSolutions; Metavante and Identrust.

For more information visit www.tricipher.com