SOURCE: The 41st Parameter

February 20, 2006 08:00 ET

The 41st Parameter Launches Patent-Pending Online Check Image Masking Technology

ImageMask™ Endorsed by Frank Abagnale as Critical Tool to Deter Check Fraud, Combat Identity Theft and Comply With FFIEC Guidance

SCOTTSDALE, AZ -- (MARKET WIRE) -- February 20, 2006 -- The 41st Parameter, a leader in covert fraud detection and prevention for the online channel, today announced the general availability of its latest technology, ImageMask™, which effectively blurs sensitive customer data when check images are retrieved online. The technology masks the customer's address block, signature, a portion of the check routing number and the account number when archived check images are downloaded from the bank's records to the consumer's PC. ImageMask does, however, still reveal enough of the check to allow customers to verify the transaction, and does not alter the original archived image.

ImageMask has been officially endorsed by Frank W. Abagnale of Abagnale and Associates, one of the world's most respected authorities on the subjects of forgery, embezzlement and secure documents. Abagnale's mastery of checks and check fraud has led him to work closely with the FBI for more than thirty years in helping them combat the issue.

"Fraudsters have figured out how to easily take account information from the online world to create fraudulent checks in the offline world, and because no transaction takes place when they compromise online check images, it often goes undetected," commented Abagnale. "ImageMask is a critical tool in deterring fraud, since the bad guys will quickly go elsewhere when the effort gets too hard. The 41st Parameter's ability to anticipate the criminal's next move and develop protective solutions before the new compromise becomes prevalent is one of the company's most valuable assets, and why I strongly endorse ImageMask. I have been saying for years that the industry needs a technology to mask sensitive check data when viewed online, and with ImageMask, I am excited to see that day has come!"

Although check usage has been steadily declining over the past two decades with the advent of electronic payment methods, check fraud has continued to rise over the same time period. According to the ACFE's Encyclopedia of Fraud, about two million bad checks are accepted in the United States every day, with check fraud averaging $15 billion in losses annually.

"ImageMask is another vital step in securing the online channel for banks and consumers," commented Ori Eisen, founder and CEO of The 41st Parameter. "ImageMask will be an essential component of an FFIEC-compliant enterprise security strategy, as financial institutions build a multi-layered approach that protects all aspects of the online channel."

About The 41st Parameter

As the pioneer of covert, online fraud detection and prevention technologies, The 41st Parameter offers highly accurate, non-intrusive fraud control measures for the online channel. By continuously collecting new and unique parameters from end-user computers during online account access, the Company's patent-pending technologies enable forensic identification of devices to monitor suspicious or fraudulent account activity and help protect sensitive customer data. The 41st Parameter's products have "zero imposition," requiring no action or behavior change on the part of the consumer. For more information, please visit www.the41.com.

Contact Information

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