Prevx, one of the pioneers of cloud-based antivirus solutions, has launched a new product that is able to protect online banking transactions even on already infected computers. Dubbed Prevx SafeOnline, it runs at the lower level of the OS in order to keep HTTPS browsing sessions secure.

Online banking fraud is an ever growing problem and has affected a lot of mid-size companies and organizations in recent months. The authors of the Zeus botnet have been particularly successful in stealing millions of dollars through fraudulent transfers and exploiting people who didn't suspect they were being used as money mules.

While the majority of security vendors are trying to come up with better ways of keeping computers from being infected, Prevx has taken a different approach with its SafeOnline product. The whole idea behind this new technology is to assume the worse – that the computer is already compromised.

Prevx SafeOnline focuses on preventing information passed through the browsers from being hijacked. According to the company, it is able to stop phishing attacks, block keyloggers, screen grabbers, cookie stealearsm, as well the most prevalent banking trojans such as Zeus, Sinowal, Goldun, Silent Banker or Bancos.

The new product implements several components, one of them consisting of a kernel driver. This has the role of protecting information passed through the keyboard and displayed on the screen while in HTTPS sessions from being intercepted. Another component hooks into several Windows APIs to prevent trojans from sending information to their master control servers.

Prevx has engaged a vulnerability testing company called Immunity to review its newest application. The company concluded in its report (PDF) that "PrevX SafeOnline was successful in preventing modern trojans and credential stealers from targeting Immunity's usernames, passwords, and other information when installed."

Even though Prevx SafeOnline is a commercial product and comes with a price tag of $14.95 per year, many users will have the chance of benefiting from it for free. This is because Prevx is already in the process of partnering up with several banks in order offer the application to their customers for free.

According to Mel Morris, the CEO of Prevx, this move is part of a brand-recognition initiative launched by the company. "No security vendor, including us, can claim to stop 100 per cent of internet threats. […] We hope that by adding an extra layer of protection that this will build confidence in online banking and e-commerce," he commented for The Register.

A free, but limited version of Prevx SafeOnline Online, which only protects a number of five websites including Amazon and PayPal, can be downloaded from here.