NortonLifeLock Online Banking Protection now available for New Zealand banks

NortonLifeLock’s Online Banking Protection, which provides increased security when performing online banking activities, has added ANZ, ASB, BNZ and Westpac banks and their websites to the service. 

Online Banking Protection provides an additional layer of security when you are transacting with a supported bank or financial institution. NortonLifeLock users with an active subscription to Norton 360 and the Norton Safe Web browser extension activated can use the Online Banking Protection.

When NortonLifeLock detects that you are going to a financial site, it asks if you want to use Isolation Mode. With Isolation Mode, you are automatically redirected to connect to your bank via a secure NortonLifeLock server in the cloud. The server recreates financial interactions on a more secure and harder to penetrate the network. 

The feature is supported by Google Chrome, Microsoft Edge and Mozilla Firefox. It also works with Norton Password Manager. 

“NortonLifeLock is providing a superior level of security with Online Banking Protection,“ says Mark Gorrie, Territory Manager and Cyber Security expert, APJ, NortonLifeLock. “Think of it as using a remote desktop to another computer that is connecting to the banking website. Essentially we take on more of the risk so you don't have to.” 

In Isolation Mode, the NortonLifeLock server takes over the interaction, provides end to end encryption for your transactions. When someone uses the mode, it creates a new, isolated and closed online session for the interaction. These sessions are secured and leave no history. Moreover, once web isolation is closed, any threats and all personal data points such as browser history, saved passwords, and tracking cookies are completely disposed for maximum security and privacy. 

Online Banking Protection also provides added security against vulnerabilities.

• Browser Vulnerabilities: Attacks in this category include denial of service, stack overflow, execution code, gain privilege, memory corruption, malicious extensions, directory traversal, SQL injection. When you use Isolation Mode, the server takes on risks at the source so they never make it to your device.  
• Phishing Attacks: Phishing is eliminated because the service will only launch it if you are connecting to a legitimate website.
• Key loggers: These programs track and fingerprint your keystrokes to discover logins, passwords and more.  Isolation mode encrypts your session and makes fingerprinting harder even when a plain HTTP site (no green padlock) is used by online service providers.
• Banking Trojans: The goal of a banking trojan is to sit silently on your computer until you connect to a banking site. It then scrapes your credentials at login and sends them to a cyber-criminal. Isolation Mode confuses the website fingerprinting that most trojans use.

“The main goal of most cybercriminals is to make money. For banking, they want to infect your computer and sit silently until you connect to your financial site. Then they scrape your information and credentials when you login to the site. NortonLifeLock’s Online Banking Protection makes it much harder cybercriminals to carry out attacks and prey on vulnerabilities.  It provides greater security while confusing or protecting against the way online financial attacks work. 

“Online Banking Protection is a service we’re delighted to offer in New Zealand to help people protect their digital lives,” adds Gorrie.