SAN DIEGO--(BUSINESS WIRE)--In a recent memorandum the Federal Trade Commission (FTC) determined that users of popular check writing software are subject to identity verification and account control validation before they can use their software or allow others to create checks drawn on their accounts.
Recent Federal Trade Commission activity is evidence for increased public concern in connection with unauthorized check creation and fraud conducted by organized scammers and con-artists. Before gValidate.com and VersaCheck X1, consumers and merchants were defenselessly exposed to harm from unauthorized, unverified checks: “sitting ducks” to con-artists. Not any more...
Bank Account Validation and ID verification prevents unauthorized checks.
iProlog Coporation, specializing in innovative digital security solutions, is pleased to announce the availability of gValidate.com, a free account validation and check verification service for consumers and businesses. gValidate.com provides a network that protects its members from financial harm before it happens, by providing a free centralized resource to validate financial accounts, verify payments by check and notify account holders of check activity associated with their bank accounts. The gValidate Network™ can eliminate the vast majority of losses associated with unauthorized or underfunded check payments.
“gValidate protects consumers and businesses from financial harm associated with checks. The free member platform allows users to detect unauthorized checks before harm can occur. gValidate carefully avoids the collection of sensitive information from its members,” says Thomas Villwock, Ph.D., CEO of iProlog Corporation. “Conventional checks can be created without any authorization, by anyone, using easy-to-use tools broadly available to the public. Unsuspecting victims may find their bank accounts depleted without warning or any means to prevent loss. gValidate provides consumers & businesses access to effective safeguards that build trust, prevent harm, and push back counterfeiting.”
Unique gValidate safeguards for bank account holders
Membership is FREE. Users on the gValidate network have access to unique safeguards which protect financial accounts and verify payments by check. gValidate Network members are also entitled to issue and print DNA Secure™ checks.
DNA Secure™ checks are verifiable online and alert account holders in real time via email or SMS text messages the moment they are created until they are deposited. Members thereby achieve full control and transparency of impending check payments. Unauthorized checks can be discovered and stopped immediately, before any harm can occur to the gValidate member’s account. Members protect their accounts through gValidate account validation, which ensures authenticated control over any bank accounts members wish to validate. Bank account validation is simple and requires confirmation of a 4 to 6 digit random check number reported back to gValidate.com. Identity verification is performed through biometric feature analysis of the account holder’s authorized signature which is entered eletronically via touch screen, mouse or other common forms of digital signature entry.
DNA Secure™ Check Writing software and gValidate protect users.
Instant member notification of impending check activity is not the only aspect of the umbrella of safeguards provided through gValidate. The protective shield is further extended by novel and eye catching safety features printed visibly on DNA Secure™ checks which members can create and print by themselves using validation-aware check writing software. DNA Secure™ checks provide unprecedented counterfeit protection using full color digital print personalization and the display of a prominently placed gValidate seal with verification instructions on each check’s face. The printing of DNA Secure™ checks is based on digital color inkjet printers, laser printers or presses with MICR ink capability and printing software utilities (for example VersaCheck X1 by VersaCheck.com) which can connect to the gValidate.com platform through the internet. Every attempt to counterfeit a DNA Secure™ check would need to mimick the Validation seal whose instructions ultimately lead to alerts which are sent to the authorized account holder. Unauthorized users would be revealed before unauthorized checks were deposited.
gValidate Commercial Benefit
Lower payment risk leads to prompt fulfillment of pending purchases and improves the flow of goods and services. DNA Secure™ checks allow merchants to eliminate credit card fees, which can lead to discounts for customers and better earnings. gValidate provides free real-time safeguards against identity theft and check fraud. Consumers and businesses have an attractive alternative to expensive identity theft service costs and costly, back-end credit reporting services.
Easy integration with existing software and merchant solutions...
Online merchants and users of Quicken, QuickBooks, Peachtree and other finance software can benefit from gValidate.com DNA Secure™ check safeguards through integration with VersaCheck X1 software, available at www.VersaCheck.com, retail stores and online. The DNA Secure™ check system actively repels unauthorized users and enhances the value and credibility of checks. Integrating the gValidate.com member model with Internet commerce solutions safeguards businesses and consumers while transforming checks into a secured, low cost and preferred payment method.
About iProlog Corporation
iProlog Corporation is a leading consulting firm specializing in security related applications associated with digital print platforms. The company provides technology development services, R&D, market analysis, implementation consulting, system architecture development and licensing of Intelectual Property associated with information processing, supplies and media used in connection with digital print applications.
iProlog Corporation has implemented a novel web enabled digital print management platform into the gValidate.com system architecture and DNA Secure™ check output process. The company licenses its technology to software publishers, financial institutions, printing companies, internet service providers, internet merchants and others. Please contact gValidate@iprolog.com for further information related to gValidate.