Cronto Introduces Strong User Authentication
and Transaction Verification Technology

Innovative technology can significantly reduce online fraud
with a low-cost, straightforward and user-friendly approach

CAMBRIDGE, UK - May 24, 2007 - Cronto Limited has today introduced a new secure user authentication and transaction verification technology, combining the latest communications, image processing and cryptographic techniques pioneered at the University of Cambridge to deliver a revolutionary new approach to online security.

Cronto image is a unique secure visual code that appears on the web site when a user logs in. The user reads the code with a Cronto client, be it a USB based security dongle, a camera-phone based reader, or an optical hardware token; verifies the transaction details displayed on the device, and enters back into the browser a one-time authorisation response generated specifically for the requested transaction. The visual code can only be decoded if generated by a genuine provider, and the correct response for the current transaction can only be produced by the genuine user device, thus providing strong, mutual transaction authentication.

This new approach is easy and intuitive for the end user - everyone knows how to take pictures - and eliminates any scope for phishing, identity theft, spyware and man-in-the-middle attacks - all important actions are reliably signed off by the user. "Even if the user is re-directed to a fake website without realising it, or the attacker piggybacks on users' sessions via spyware," explained Dr. Elena Punskaya, CTO of Cronto, "simply logging on along with the user is no longer enough; the requested transaction will not go through without the user's specific approval - Cronto transaction authorisation response".

Man-in-the-middle attacks have recently been launched against Citibank and ABN-AMRO. As experts predicted, the criminals are changing their strategy and more complex attacks are becoming the norm.

"As online fraud becomes ever more sophisticated, the requirement for a secure and safe method of authenticating users has become paramount as organisations seek to safeguard themselves against a range of fraudulent transactions," said Igor Drokov, CEO of Cronto. "Cronto visual signing can significantly reduce fraud with a low cost, scalable and user-friendly approach that is easy to deploy and maintain."

"Cronto's novel authentication solution provides a strong, efficient mechanism for securing online transactions", says the Head of ICT Security Research, BT. "Whilst easy and intuitive for end users, it helps to safeguard transactions against current and future threats".

For more information on Cronto visit: http://www.cronto.com