IDS shows biometric identification system with proprietary 384 Bit algorithm
Biometrics company combines finger-print recognition with 384 Bit security and touts the superiority of finger printing over other forms of biometric identification
A couple of weeks ago the Federal Trade Commission (FTC) reported that that identity theft was the number one consumer complaint in the United States. A month earlier, in December 2005, the Securities and Exchange Commission (SEC) issued notice to all brokerage houses with online brokerage accounts that they must take immediate action to protect clients stock portfolios from online theft of accounts by hackers who, in weeks before the SEC instructions, had stolen entire stock portfolios of brokerage clients.
Altamonte Springs, Florida-based IDS Homeland Security Division, a division of IDS Worldwide Solutions (OTC BB: IDWD) (we reported last week that the company was splitting into three independent companies to allow the homeland security division more room to run) says it has a solution for identity theft: It has created what it describes the world’s first true biometric security (because its uses capacitance scans, not live digital scans which are not hack-proof), combined with IDS proprietary algorithms which uses 384 Bit encryption. IDS proprietary technology meets the HIPPA security requirements and is being released this quarter to the banking, insurance, investment, and medical industries, as well as the government. The company’s technology won the 2004 Best Data Security Product award, and the judges wrote in their decision that it would take a bank of Cray supercomputers twelve years to decode IDS proprietary algorithms.
The biometric security makes data secure even if a customer’s laptop or server is stolen, because access to the hardware would be blocked without the proper live fingerprint of the authorized user combined with the 384 Bit algorithm. This new technology will also improve the security and portability of medical records: Information may be stored on an IDS proprietary Biometric USB Flash Drive embedded with IDS 384 Bit Encryption, so that even if the USB flash drive is lost or stolen, it can only be accessed by the patient’s live fingerprint authorization. CEO Patrick Downs says that “IDS is poised to capture significant increased revenues from its Bio-Track products and this multi-billion dollar biometric security market.”
-read more information at IDS Web site
