ING Direct is offering its clients free software designed to protect against online fraud. The company says it it is the first Canadian bank to offer Trusteer Rapport.

The software download is being launched today alongside a new security guarantee, which guarantees ING Direct clients will be reimbursed of any money lost in an ING Direct account due to fraud.

ING says “Trusteer Rapport protects consumers from identity theft and malware threats including: phishing, pharming, keyloggers, man-in-the-middle attacks, man-in-the-browser attacks, screen-scrapers, and session hijacking, complementing existing desktop security products, even if computers are already infected with malware.”

According to ING Direct, the software is transparent and does not require any configuration or maintenance once installed. Rapport creates a “secure-pipe” within the computer that protects all information flowing between the machine and the ING Direct web site.

Although ING Direct is recommending all clients download the software, it is not required for clients to be eligible for the security guarantee. It adds that you don’t have to be an ING Direct Client to download the software.

“As Canada’s leading direct bank, protection of personal information online is a key priority. That’s why we are going above and beyond with what we believe to be one of the simplest security guarantees offered by any Canadian financial institution and offering Trusteer’s Rapport as a free, added security feature to all of our clients,” says Brenda Rideout, chief information officer at ING Direct.

The software, which can also protect consumers on other Web sites that contain private or personal information, is available for download at www.ingdirect.ca.

ING Direct is Canada’s largest direct bank with over 1.6 million clients and more than $23 billion in total assets.