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Today, many fraud schemes exist—some old, some new. Methods of committing the crime range from skimming devices to spoof sites to stealing credit card solicitations straight from a victim’s house. The methods are becoming more sophisticated as usage rates for credit cards continue to grow, as personal information increasingly becomes readily available, and as Internet applications thrive. In the past few years, fraudulent charges have increased. This trend is expected to continue unless new measures are adopted to combat it.




"Historically, financial services companies have taken the brunt of fighting credit card fraud, and they have led the way in developing and deploying new tactics. Motivating merchants and consumers to do their part in fighting fraud has always been difficult," StarGate is working on solving this problem with a new product called CreditStick™! CreditStick allows secure transactions over the internet by incorporating the latest AES encryption. CreditStick works differently from most other electronic key solutions which require secure communication channels all the way back to the server. Because of StarGates unique approach, the construction of POS equipment and the communications between them does not need to be secured making them cheap and simple to mass produce. StarGate plans to introduce a family of products that allow any merchant to partcipate. CreditStick initially will be USB based and later will be offered in an RFID version.

Please check back later for updates.

Inquiries from interested parties, analysts and investors seeking additional information about these products are invited to contact:


 

 

 

"As many as 7 million U.S. adults might have been identity theft victims between June 2002 and June 2003, according to business research group Gartner Inc., a 79 percent increase over the year before."