VerifyMe(TM) Approved by Mexican Regulators for Online Gaming and Anti-Money Laundering
April 10 2014 - 8:37AM
Marketwired
VerifyMe(TM) Approved by Mexican Regulators for Online Gaming and
Anti-Money Laundering
WASHINGTON, DC--(Marketwired - Apr 10, 2014) - LaserLock
Technologies, Inc. (OTCBB: LLTI), a company involved in
authenticating people and products announced today that its
identity authentication technology, VerifyMe™, has been approved by
the Mexican Government for both online gaming and to fulfill the
requirements of a new reform passed last year to curb money
laundering in the country. The approval is in conjunction with a
project in the gaming industry.
"This is a new milestone in our fight to deliver viable, strong
authentication technology to the marketplace and speaks volumes to
the underlying technology that makes up VerifyMe™," said Neil S.
Alpert, Chief Executive Officer. "The current system, in which
passwords are so easily hacked and online and financial security so
vulnerable, needs to be replaced and VerifyMe™ is the ideal
technology to do it."
VerifyMe™ is a multi-factor authentication solution that
replaces the broken system of passwords and PINs for user
authentication. It utilizes three independent authentication
factors instead of just one: it verifies something you are,
generally a biometric such as facial recognition, something you
have, generally possession of a smartphone, tablet or other
connected device and something you know, for which VerifyMe™
utilizes a high-integrity color gesture swipe. It conforms to the
highest security standards set out by the US National Institute of
Standards and Technology, Level 4. The system also has the ability
to geo-tag users in applications for which geo-location information
is necessary. The entire process takes about five seconds to
complete; yet the system is nearly impossible to hack.
"Historically, high levels of identity assurance, like NIST
Level 4, have been expensive to implement and cumbersome to use --
what's really unique about VerifyMe™ is that it eliminates both of
those issues," said Paul Donfried, Chief Technology Officer.
"VerifyMe™ is much easier to use then complex passwords and
organizations can actually save money by reducing their support and
risk management costs. Increasing the privacy and identity
protection they provide their customers becomes a powerful
additional benefit."
ABOUT LASERLOCK TECHNOLOGIES, INC.
LaserLock is a high-tech solutions company in the field of
authenticating people and products. It offers state-of-the-art
solutions to combat identity fraud and counterfeiting utilizing
multi-factor authentication and a suite of security pigments for
governments, health care providers, the gaming industry, the
financial services industry and high-end retailers.
To learn more, visit us at either www.laserlocktech.com or
www.verifyme.com or follow us on Twitter @LaserLockTech.
MEDIA INQUIRIES Kim Rickards Sage Communications (for LaserLock
Technologies) 703-584-7251 Email
Contact INVESTOR RELATIONS LaserLock Technologies Email Contact