Technology moves on quickly these days. No sooner have you purchased the latest gizmo than it is out of date. This can make keeping up an expensive past-time. You can of course opt to bide your time but sooner or later you will be forced to act.
Retailers and banks will find this scenario a necessary expense. With more people than ever online Internet frauds and scams are rife. How to prevent unwarranted access to your money and how to protect you identity is becoming ever more important.
Chip and Pin was hailed a significant breakthrough in preventing internet fraud and theft but now it seems that may have already 'had its day'.
The latest technology is being used in Japan. It would seemthat country is still at the forefront of intelligent inventions. Cashpoints in Japan and Poland are already utilising the latest 'gizmo'. It is a finger-sized scanner which is located next to the keypad. It does not use fingerprints though. Instead it works on the pattern of veins inside your finger. These are said to be more individual than fingerprints.
The PC-compatible finger vein scanner is produced by Hitachi. It is small, around the size of a computer mouse. It does however contain LED lights and a video camera.Micro-technology is used world-wide in the 21st Centruy and this latest addition could prove useful.
They currently retail online at £195 plus VAT each. Not cheap then but perhaps a cost effective means of identification for banks. It is doubtful small businesses will find cost a warranted expense.
Ffinger vein-based security systemshave taken off inrecent times. They have been fitted at some airports and hotels, plus recently in a UK police armoury. It is expected that this technology will sooner or later be rolled out into High Street banks in many countries.
The technology has undergone medical trials and these have shown that fluctuations in blood pressure and health conditions do not affect the identifcation process.
Chip and Pin was initially a success however in the long term criminals have found many ways to get around the security it provides. In time that may be the case for all such security advances. For now at least the finger vein identifying process is safe and secure. Biometrics will be used in the near future.
Not convinced of the need for change. The BBC reports that 'According to the UK Cards Association, fraud losses on cards in the UK alone totalled £185m in the first six months of last year.'