Fraud crimes will continue to grow until we exploit ID KEY (memory stick) system which will make both the signature and PIN number systems reliable as follows.
ID KEY will activate printer to print ID sticker (small sticker with person\’s image and name printed on it) which can be attached to the document and countersigned to personalise signature. Chip and PIN system does not make entire signature system reliable the aw personalised signature system will and hence is not good enough in combating fraud crimes. Current signature system is like passports without photos and that is why it is so difficult to deter and prosecute fraudsters. Why would anyone get tempted to misuse this system when they know that in the event of crime we will know who they are?
ID KEY will be needed to activate ATMs, Why would anyone get tempted to use stolen or skimmed cards when they know that ATM will not get activated without the use of Card Key Code stored in ID KEY.
Systems like Chip and PIN, biometric ID cards etc. will not make signature and PIN number system at ATMs reliable the way ID KEY system will and hence these systems will only make bad problems worse by diverting fraud crimes to other sectors. It is strange why policy makers are not interested in knowing how ID KEY system will deter this crime which is costing us over £20 bn. a year.
Details on proposed honesty restoring ID KEY system are on website http://www.xwave.co.uk
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Fraud crimes will continue to grow until we exploit ID KEY (memory stick) system which will make both the signature and PIN number systems reliable as follows.
ID KEY will activate printer to print ID sticker (small sticker with person\’s image and name printed on it) which can be attached to the document and countersigned to personalise signature. Chip and PIN system does not make entire signature system reliable the aw personalised signature system will and hence is not good enough in combating fraud crimes. Current signature system is like passports without photos and that is why it is so difficult to deter and prosecute fraudsters. Why would anyone get tempted to misuse this system when they know that in the event of crime we will know who they are?
ID KEY will be needed to activate ATMs, Why would anyone get tempted to use stolen or skimmed cards when they know that ATM will not get activated without the use of Card Key Code stored in ID KEY.
Systems like Chip and PIN, biometric ID cards etc. will not make signature and PIN number system at ATMs reliable the way ID KEY system will and hence these systems will only make bad problems worse by diverting fraud crimes to other sectors. It is strange why policy makers are not interested in knowing how ID KEY system will deter this crime which is costing us over £20 bn. a year.
Details on proposed honesty restoring ID KEY system are on website http://www.xwave.co.uk