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FOR
IMMEDIATE RELEASE
Veratad Technologies, LLC
Helps Detect & Prevent ID Theft for
2008 Red Flag Compliance (FACTA)
Englewood, New Jersey -
June 1, 2008
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Veratad Technologies, LLC, a world
class provider of Age and Identity
Verification Solutions announced
today that its
IDMatch and IDMatch+PLUS
Identity Verification Solutions will
now be offered to assist businesses
to
comply with Section 114 and 315 of the upcoming
2008 Red Flag
Regulations under the Fair and Accurate
Credit Transactions Act of 2003 (FACTA).
"Red Flag Rules apply to financial
institutions and creditors such as
banks, credit unions, auto dealers,
mortgage brokers, utility companies
and telecommunications companies"
says Pattie Dillon, President of
Veratad. Ms. Dillon notes that those
covered by the Act have until
November 2008 to come into full
compliance or be subject to
penalties.
Veratad’s flagship products
“IDMatch” and IDMatch+PLUS include
unique and innovative features that
provide a balance between protecting
businesses against fraud while
protecting sensitive personal data
and promoting a high level of
consumer privacy.
The
strength of Veratad's products begin
with unique data element sets used
in the verification process and are
enhanced by a proprietary
rules-based application.
"Our solutions are ideal for meeting
the identity verification and
address discrepancy requirements of Section 114 and
315 of the FACT Act. The
applications provide an
easily deployable solution with
different levels of authenticating
identities, so that users can better
manage their risk" said Dillon.
Veratad's verification applications
are accessible through a web
interface, batch process or the
service can be
integrated into existing web sites
to assist users in creating a
strong "Red Flag Rules Identity
Theft Prevention Program" that is compliant with
Section 114 and 315 of FACTA.
For More Information Contact:
Pattie Dillon
President
Veratad Technologies, LLC
Englewood, New Jersey
P: 201-510-6000 ext 141
F: 201-510-6036
pdillon@veratad.com
About Veratad Technologies, LLC
Veratad Technologies, LLC (
www.Veratad.com ) is a world
class provider of real-time online
Identity Verification and Knowledge
Based Authentication Solutions
designed to verify an individuals
identity and age while maintaining a
high level of consumer privacy.
At the center of Veratad's success
is a state-of-the-art privacy
processing platform which delivers
Veratad's AgeMatch/Age
Verification Solution,
IDMatch/Identity Verification
solution and IDMatch+Plus/Knowledge
Based Identity Authentication
Solution. Veratad also offers a
patent pending solution that
protects sensitive customer
information while offering merchants
increased online sales by enhancing
customer confidence. Veratad
verifications can be delivered in a
matter of seconds directly through
multiple verification platforms to
commerce, financial and government
institutions. Veratad also
provides a wide range of custom data
solutions. For more information
contact
info@veratad.com . Forward-Looking Statements
In addition to the historical
information contained herein, this
press release contains forward
-looking statements, such as
statements regarding the Company's,
and the combined companies',
anticipated future performance,
including the ability of the
combined companies to expand
verification and e-commerce
capabilities; to increase product
offerings and the size of the
distribution channel; as well as
statements containing the words,
"believes," "intends,", and similar
words. Such forward-looking
statements involve known and unknown
risks, uncertainties and other
factors which may cause the actual
results, performance or achievements
of the Company, or industry results,
to differ materially from any future
results, performance or achievements
expressed or implied by such
forward-looking statements. Such
factors include, among others: the
Company's limited operating history
and variability of operating
results; competition in the
electronic verification and commerce
market; the ability of the combined
companies to successfully offer the
market expanded verification and
privacy tools and e-commerce
capabilities and services and the
market's acceptance of such
offerings, and other risk factors
referenced in this release. |
