While many organizations have bashed the Chinese military and Government over suspected cyber espionage attacks, Boston-based Trusteer, a provider of cybercrime protection solutions for endpoints, is embracing business opportunities in the nation, and on Wednesday announced that it has setup a sales and service office in Beijing.
William (Xiaoqiang) Wei has been named as country manager for Trusteer in China, the company said.
While many private organizations and the U.S. Governmenthave been vocal in naming China as the culprit behind major cyber attacks, China too says it is often attacked.
Last month, China’s news agency Xinhua ran a story saying the nation was a victim of cybercrime – not an aggressor. According to China’s CERT, the United States is the top attacker against the country. China CERT data showed at the time that in the previous 59 days, 2,196 servers in the U.S. controlled some 1.29 million systems in China.
“In China, just like the rest of the world, financial institutions and enterprises face the same malware attack and account takeover threats,” said Rakesh K. Loonkar, President of Trusteer. “In response to extraordinary demand for Trusteer cybercrime prevention solutions, we plan to aggressively scale operations in China from our Beijing headquarters.”
Trusteer will offer its various fraud prevention and endpoint protection products in China for financial institutions and enterprises, including its recently announced “Trusteer Apex” Endpoint protection software designed to stop APTs and targeted attacks from successfully compromising endpoints.
In addition to its expansion into China, Trusteer recently entered into a partnership with Russia-based Group-IB, a security incident response and research firm, to help financial institutions combat cybercrime. Under that partnership, Group-IB, which has published extensive research on Russian cybercrime markets, will work with Trusteer to conduct threat research focused on eastern European fraud rings, which will be integrated into Trusteer’s fraud prevention solutions.