SOURCE: SmartMetric, Inc.

SmartMetric, Inc.

October 06, 2014 11:20 ET

SmartMetric Warns of an Explosion in Identity Theft and Account Takeover as a Result of the Recent Gigantic JP Morgan, Home Depot and Target Data Breaches -- Report Shows That 1 in 3 People Who Received Data Breach Notices Became a Victim of Identity Fraud

NEW YORK, NY--(Marketwired - Oct 6, 2014) - SmartMetric, Inc. (OTCQB: SMME) The cost to the economy, and consumers in particular, of the recent explosion in data breaches at some of the biggest consumer enterprises in the United States goes way beyond the direct fraud losses that flow from the fraudulent use of credit card information to make in person and online purchases. According to a 2014 published report by Javelin Strategy & Research, 1 in 3 people who received data breach notifications in 2013 became a victim of fraud. Worse, the report reveals that breaches of debit card information shows 46% of consumers are likely to become an identity theft victim.

It is reported that, in the United States, 2013 identity theft cost over $13 Billion.

SmartMetric has developed a safer payments card that uses a person's biometrics (fingerprint) to turn on the card before it can be used. Tying the card to the card owner by the use of biometrics will aid in combating the current tidal wave of credit card fraud, said the President and CEO of SmartMetric, Chaya Hendrick. Having a credit card that has a miniature fingerprint reader inside that in turn scans a person's fingerprint and matches it with the card owner's fingerprint stored inside the card to turn on the card, is a monumental increase in payment card defences. It also provides the use of a biometric credential, in this case the person's fingerprint, that never travels across networks or leaves the consumer's card, said SmartMetric's President.

About SmartMetric, Inc.

SmartMetric is a publicly traded technology company that has added a fingerprint scanner built inside EMV payment credit and debit chip cards, thereby creating a second layer biometric authentication protection in defending against card fraud. The company is now actively marketing its technology to card issuing financial institutions around the world. To find out more please go to 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.

Contact Information

  • Investor Relations
    EraStar, Inc.
    Office (702) 480-9800

    SmartMetric, Inc.
    Chaya Hendrick
    Office: 702-990-3687
    Direct: 786.269.2238
    Email: ceo@smartmetric.com