mConfirm protects against identity theft


A dastardly thiefA new Israeli technology is helping to stop identity theft and catch thieves in the act. The software works by checking the location of the customer’s phone and the location where a credit or debit card is being swiped. If the locations don’t match up, the software generates a rating based on how far apart the phone is from the card and checks the customer’s transaction history to generate another rating. The two are combined to create a score from 1 to 1,000, with 1,000 being a near-certain fraud attempt. The software, which was created by Secure Identity Systems, enjoyed great success at Israeli credit card issuer Visa CAL, and is now available to banks throughout the US.