Keypasco: Fighting Fraud with Next-Level Authentication

Posted on 2025-04-272025-04-27

Fraud and scams targeting online banking, e-commerce, and card-not-present (CNP) transactions are on the rise.

Sweden had a nationwide Bank ID for all citizens for decades, the Central Bank of Sweden (Sveriges Riksbank), warned though in March 2024 that “Fraud is the fastest growing type of crime in Sweden”.

In March this year, Osaka Prefecture banned seniors from talking on the phone while using ATMs, which was a dramatic step to ease escalating social engineering scams.

The reason is simple: our daily lives heavily rely on the Internet and smartphones as nearly all services have migrated online. Unfortunately, this convenience has also created opportunities for fraudsters to operate 24/7 from anywhere in the world.

The problem? Cards and bank accounts are always open, leaving them vulnerable to deception.

Keypasco is going to introduce One Touch Safe, an innovative solution that locks your cards and bank accounts by default, keeping you in control at all times:

Enhanced Security: Accounts can only be accessed when unlocked by the user, providing an additional layer of protection against fraudsters.
User Control:Users can unlock their accounts with just a few taps, ensuring they are always in control of when and how their accounts are used.
Advanced Protection:Features like ‘Sign What You See’ and optional family member approvals for high-risk transactions safeguard against cons.

Just a few taps, users can easily enable or disable their accounts

With One Touch Safe, Keypasco is setting a new standard in fraud prevention, ensuring both banks and customers benefit from enhanced security and peace of mind.

Leverage Keypasco’s Two-channel authentication patented technology to safeguard your account security and protect you from fraud threats.

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Device authentication

We offer a “token” for end users without the administration, logistics and hardware cost by using the devices the end users already own!

Security By Your Own Device!

The secure token is the identified device a user already carry, examples could be a smartphone, tablet, browser or a desktop/laptop computer.

Geographical locations

(geo-fencing)

Access is only allowed from locations that are approved, and the approved geographical location can be as large as a country or a continent, or just as small as a city.

We make sure that if a user moves from point A to B that they verify that it is indeed the true user who has moved.

2-channel structure

The Keypasco technology offers a strong authentication solution consisting of the Keypasco server (Borgen), one or several clients (Vakten), and a web channel.

The first channel sends information between the end user’s device/browser and the Internet Content Provider.
The second channel sends information between the end user’s device/Vakten client and the authentication server.

Then the verification of the end user´s attempt is done via the multi-factor levels of security. The Keypasco server verifies the device authentication, geographical location, micro proximity devices (optional), and the risk management.

Micro proximity

The micro proximity feature adds an additional level of security by appointing a dedicated micro proximity device. If this micro proximity device is not in immediate proximity to the Vakten for Desktop client the user can’t login or sign any transactions.

For an example: if device 1 is used to login to an account then device 2 (which is the micro proximity device) has to be within centimetres of device 1 to be logged in.

Risk management

Our risk management analysis feature provides a risk score for each attempt done by the end user. The risk score and it´s value is determent by indicators such as correct device, proximity of additional secure devices, Out Of Band verifications, geographical locations/geofencing, previous fraud and fraud trends etc.

This analysis is improved continuously and is an active part of the service to quickly mitigate new threats.

PKI Sign

The Keypasco PKI Sign feature is a dynamic feature that offers ICPs full support of PKI in a portable mobile device. The feature is based upon the core concepts:

a end users credentials, only known by the correct user,
a transaction can only be approved from the correct device,
a transaction can only be approved from an approved location.

We can guarantee by utilizing the PKI Sign that the signature is done by the correct user. Keypasco has invented (and patented) a new innovative way of using a users mobile device as a secure soft carrier of private keys.

An end users private key is divided into three parts: a client part, a server part, and a secret (PIN). The private keys can only be put together and sign a transaction if the end user has all three parts. The correct user is the only one who knows the secret to achieve the client part, and the server part is only achieved when the correct device and location has identified itself.

The feature does not require a Trusted Platform or a Secure Element, and Keypasco can provide the generating of keys, and verify the signatures if no established PKI CA is provided by the Internet Content Provider through an optional plugin.

Macro proximity

Access is only allowed from locations that are approved, and a user need to have his or hers devices within a reasonable distance of each other.

If the devices are too far apart (example: the distance between point A and point B) it will result in a weak macro proximity score.

GeoOTP

The Keypasco GeoOTP is a complementary mechanism for offline situations. This feature is suitable when a user is in a situation without network access.

The GeoOTP provides information about where the device is located and which device that is being used.

Local sign

Keypasco offers Internet Content Providers a way to provide user a option to sign transactions via the Desktop Client. The Vakten for Desktop client presents a window with the transaction details and asks the user to approve or deny.

This signature option is presented on the same Desktop device that initiated the attempt, but all the information is secured by the 2-channel structure.

Vakten™ Smartphone

The Vakten client is installed on the end users smartphone device to identity the device and location. This Vakten has two functionalities:

To send the device authentication and geographical location information to the Keypasco server Borgen,
and to receive tasks to confirm attempts, which is usually payment signatures or Out of Band recovery.

Supported platforms: Android & iOS.

The Keypasco server – Borgen™

The Keypasco server Borgen is self-scalable to handle any volume, and we offer a SLA on 99,999% uptime on the Cloud Server.

Borgen store the unique identifiers (made up by the device authentication, geographical location, micro proximity devices (optional), and the Risk management.) in the anticipation that an Internet Content Provider and the Vakten software send in an authentication and/or sign attempt.

When an attempt is received, Borgen match the sets of identifiers sent through the different channels with the saved ones.

The Keypasco Server Borgen is offered to be hosted in both the Clouds and On-premise as a Server License.

Vakten™ Browser

The Keypasco product Browser Vakten is an easy and quickly deployable product tailored as an entry level product on it’s own, but comes to it’s full strength in combination with the Keypasco client Smartphone Vakten.

It doesn’t require any installation procedure on client devices; it is instead an integrated part of the web layer of the Internet Content Provider’s web site by an embedded JavaScript.

The Vakten client is installed in the end users browser to identity the device and location. This Vakten has one functionality:

To send the device authentication and geographical location information to the Keypasco server Borgen

Supported platforms: Browsers (Internet Explorer, Chrome, Firefox, & Safari) on desktop (Windows, Mac OSX, & Linux) & smartphone (Android & iOS).

Vakten™ Desktop

The Vakten client is installed on the end users smartphone device to identity the device and location. This Vakten has two functionalities:

To send the device authentication and geographical location information to the Keypasco server Borgen,
and to receive tasks to confirm attempts, which is a local sign payment signatures.

Supported platforms: Windows, Mac OSX, & Linux.

Mitigated Threats

Phishing: Keypasco mitigates phishing by linking the user with a geographical location and the device authentication. A user’s username and password will not work from a wrong device or location.

Man in the Middle & Man in the Browser: Man in the Middle (MitM) and Man in the Browser (MitB) attacks are mitigated by Keypasco’s 2-channel structure and the Out of band secure notifications.

Malicious Virus Control (Viruses, Trojans, etc): Viruses, Trojans, and other infections can control or replicate an end user’s device. Keypasco mitigates these threats by offering Out of Band authentication, which enables a user to regain control of devices and accounts.

Theft/Robbery: In addition to virtual threats, physical theft of a device can compromise a user’s security.
With Keypasco’s proximity feature, a user’s account is safe even if a device is stolen.

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