October 22, 2007

ID Vault - Store Your Data In a Vault

Hmmm. Right now when I go online, my data is stored in my web browser's memory or I opt to remember it or grab data from my wallet.

Am I open to attack? Yes - according to Guard ID Systems - maker of the ID Vault. The ID Vault is a USB key that slips into your computer and holds your personal and financial information.

Jerry Thompson, CEO and Founder of Guard ID answered some questions and helped me understand why I (and so many of you) am not protected.

Web browsers can store personal information for users - why use Guard ID?

Web browsers do store personal information, but this information is not secure and is easily accessible to cyber criminals. Web browsers are very vulnerable to attack, so one of the keys to securing your personal information, including usernames and passwords, is to NOT store it on your PC, where it is subject to attack and capture. ID Vault encrypts and stores your usernames, passwords, and credit card information on a smart card microchip inside a tamper-proof USB device, where cyber criminals can't get at them.

We all hear about data theft, but aren't the stats and probability that "it can happen to me" so low that a product like Guard ID is not that needed?

According to the "2007 Identity Fraud Survey Report" by Javelin Strategy and Research, $13 billion was lost to online identity theft and fraud in 2006, affecting about 2.4 million Americans. Those numbers doubled from 2005 to 2006. The problem continues to grow, and the methods of online identity theft continue to grow in sophistication. The number of new phishing attacks recently topped 23,000 per month. When one considers the time and expense associated with trying to clear one's name and recover lost funds after falling victim to identity theft, any probability of online identity theft is too great, especially when the probability can be reduced to zero with a simple $50 investment in an ID Vault.

Why is it a security hole to simply take your credit card out of your wallet and enter it into a shopping site or log onto your bank account online?

Every time you enter personal information in a Web site, including usernames, passwords, and credit card numbers, you are at risk. Keystroke loggers and other spyware can capture this sensitive information to use it fraudulently.

What's more, the simple act of signing in to your online bank account comes with risk. In addition to potential keystroke logging, you could be a victim of a pharming attack, where you are unknowingly directed to a fraudulent "look-alike" site whose reason for existing is to capture your username and password as you type them.

In both instances, ID Vault offers protection. Since ID Vault automatically signs you in to your accounts without typing, you are safe from keystroke loggers and other spyware. ID Vault also protects against phishing and pharming with the ID Vault Trusted Network. This network of more than 7,000 financial sites and 500 top shopping sites ensures that you sign in to legitimate sites, and not fraudulent copies designed to steal your personal informationóand your money.

ID Vault is $49 (suggested retail price), which includes 12 months of protection updates and software enhancements. Unlike software-only security products, an active subscription gives consumers the right to install and use ID Vault on any number of PC's.

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