|By Marketwired .||
|July 11, 2014 11:02 AM EDT||
NEW YORK, NY -- (Marketwired) -- 07/11/14 -- SmartMetric, Inc. (OTCQB: SMME) -- SmartMetric reports that according to research by ACI International and the research company, the Aite Group, banks lose more than money from credit card fraud. They lose a large number of their customers as well. According to the joint ACI and Aite report, 23% of a bank's customers who experience card fraud move to another bank after being card fraud victims. "When you take into account that 1 in 4 bank credit card customers have experienced fraud over the past 5 years this amounts to a very large loss of customers for a Financial Institution," said SmartMetric President & CEO, Chaya Hendrick. "Banks as well as their customers benefit alike from increased credit card security," she said.
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.
About SmartMetric, Inc.
SmartMetric, Inc. is a technology company that designs and engineers its own advanced products utilizing the company's expertise in miniaturizing electronics. The company has developed a miniature fingerprint self powered fingerprint scanner and reader that fits inside credit and identity cards that are at the center of SmartMetric Inc.'s advanced biometric products. For more information please visit www.smartmetric.com.
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