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New Cybersecurity Firm Targeting Financial Malware Fears

TaaSera, a new firm backed by former Homeland Security Secretary Tom Ridge, is marketing advanced malware detection technologies to the financial sector.

There's big money in cybersecurity services for the finance sector. TaaSera, a new malware detection firm backed by former Homeland Security Secretary Tom Ridge, officially launched in California. The company provides early warning services and custom intelligence information for banks and financial institutions. Beyond Ridge's involvement, company head C. Scott Hartz formerly served as CEO of PriceWaterHouseCoopers Consulting. TaaSera is monetizing network malware detection technologies licensed from SRI International (popularly known as the Stanford Research Institute).

Financial institutions in particular, and Fortune 1000 companies in general, are facing an epidemic of cybercrime and malware intrusions—most of which are not reported. Employees' smartphones are increasingly being used as attack vectors and large corporations have been ramping up their security budgets.

[Image: Flickr user Daniel Leininger]

Correction: An earlier version of this article referred to SRI International as the Stanford Research Institute.