SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

May 03, 2016 09:23 ET

Annual Global Card Fraud to More Than Double Reaching Over $35 Billion in Four Years

NEW YORK, NY--(Marketwired - May 03, 2016) - SmartMetric, Inc. (OTCQB: SMME) -- According to a research report conducted by the research organization The Nilson Report, for 2015 through 2020, card fraud worldwide is expected to total $183.29 billion. In 2020, global card fraud is projected to exceed $35.54 billion.

Fraud, grew by 19%, and outpaced volume, which grew by 15%. Fraud losses by banks and merchants on all cards issued worldwide reached $16.31 billion in 2014 when global card volume for the same period totaled $28.844 trillion.

"The astronomical growth in payment card fraud is souring out of control and is having an enormous economic impact globally. These figures show why consumers are so concerned about credit card fraud and the financial benefit of better credit card security for consumers and card issuing banks alike," said today SmartMetric's President & CEO, Chaya Hendrick.

SmartMetric has created a miniature fingerprint reader that sits inside credit cards that in turn is used to activate the card only following a fingerprint match with the cards legitimate user. SmartMetric is now in talks with major national and global card issuing banks who have expressed a high level of interest in deploying SmartMetric's fingerprint biometric in-the-card anti fraud technology. The SmartMetric biometric card works with the chip card (EMV) technology and does not require additional equipment or software on the part of card issuers and banks.

To view a video of the SmartMetric biometric chip card follow this link:

SmartMetric Biometric Payments Card -- https://youtu.be/zSX59uHoHqU.

To view the company website: www.smartmetric.com.

Safe Harbor Statement: Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors.

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