Yogendra Raja sent a message to Jimmy John Liautaud Owner of Jimmy Johns Franchise, LLC email address that said:
Banks do have option to stamp out fraud and cybercrimes forever.
Dear Sir/Madam
Identity fraud, card fraud cybercrimes are growing so fast ONLY because we rely on unreliable signature, PIN and password systems to conclude our transactions. These crimes will be STAMPED OUT forever only if we make all these three systems RELIABLE and FOOL PROOF as described below. It is as simple as that.
Signature system is unreliable because in the event of crime signature does not even expose fraudsters gender. We should have realised this serious mistake years ago. To make signature reliable all we have to do is to apply our ID sticker (supplied by financial institutions with our photo, name and their logo printed on it) to the document and countersign.
PIN and Password systems is unreliable because fraudsters and cybercriminals have options to pick them. We should have realised this serious mistake years ago. To make PIN reliable all we have to do is to store PIN on key size thumbprint activated memory stick. Call it EPIN. This will act like contactless card but virtually 100% reliable. To make password reliable all we have to do is to use this EPIN as password.
To implement this system all financial institutions have to do is to supply their customers their ID stickers and EPIN.
Smart electronic and digital systems will not solve the problem but will only make the problems worse because a) They will only divert fraud to other sectors b) Loopholes in those systems will provide fraudsters even more new options to do more fraud c) human error plus equipment fault will cause serious problems and d) these systems will not make unreliable signature, PIN and password systems reliable and fool proof..
These systems are like silver bullet in combat fraud crimes because apart of deterring fraud they will a) stop criminals from misusing our details they already have and b) stop cybercriminals from all over the world from making easy money from us.
These ideas are copyrights protected in 160 countries.
Please forward this new information to others. Thank you.
Regards
Yogendra Raja (Inventor of these patented and copyrights protected Ideas (851132)). U.K.
Email ykrpss@gmail.com
