Wednesday, October 9, 2013
WASHINGTON, Oct. 9, 2013 -- LaserLock Technologies (OTCBB: LLTI), a company that authenticates products and people, is pleased to report that the New Jersey Division of Gaming Enforcement's final rules on Internet and Mobile Gaming incorporate revisions consistent with all three of the suggestions advanced by LaserLock during the public comment period. The final rules, adopted by Director David L. Rebuck on September 26, 2013, effective October 28, 2013, address concerns raised by LaserLock with regard to authentication of patrons wishing to place wagers.
LaserLock lobbied for the inclusion of stronger authentication mechanisms than were originally incorporated in the regulations. LaserLock suggested a multi-factor authentication system, the hallmark of LaserLock's VerifyMeTM platform, with the inclusion of dynamic facial recognition, which guards against identity fraud by ensuring the player who claims to be logging in is not simply a static HD image being held up to the camera.
"I am delighted that LaserLock's VerifyMeTM product line meets or exceeds New Jersey's robust authentication requirements," said Neil Alpert, Chief Executive Officer. "LaserLock expects to submit the entire VerifyMe Gaming Suite to the Division in the near term."
The VerifyMe Gaming Suite includes authentication technologies that involve a color gesture swipe (something you know), a biometric facial scan (something you are) and a mobile device (something you have) to achieve positive identification and location verification. It can also incorporate credit agency and other database verification capabilities to perform initial identity validation and reliably verify age. Each component can be used independently or collectively to achieve the highest level of identification.
"This is an important step for LaserLock as we continue our growth in the gaming industry," said Michael R. Sonnenreich, Chairman of the Board. "As more states move toward legalizing Internet gambling, they will look at New Jersey as the model of thoughtful and secure regulations. We are excited that they include our expertise in human authentication technologies."
ABOUT LASERLOCK TECHNOLOGIES, INC.
LaserLock is a high-tech solutions company that authenticates products and people. It offers state of the art solutions to combat counterfeiting and identity fraud for governments, health care providers, the gaming industry, the financial services industry and high-end retailers.
The company authenticates products, government documents, and currency with a suite of proprietary security inks and digital solutions that have never been compromised, making them safer than other anti-counterfeiting technologies such as holograms. LaserLock's anti-counterfeiting solutions protect the reputation and bottom-line of governments and businesses around the world.
The company authenticates people by performing strong, multi-factor identity validation via a patented digital platform called VerifyMeTM, which identifies an individual by requiring a shared secret (something you know), a physical token (something you have) and a biometric factor (something you are). The process takes less than five seconds and achieves military-grade authentication standards. As the world moves away from password-based authentication technology, LaserLock's VerifyMeTMplatform offers a more secure and easier alternative for authenticating online identity.