June 28, Nottingham, UK: - An unsuspecting fraudster picked the wrong piece of software to steal when he tried to purchase a product that utilises BitArts’ patent pending digital fingerprinting technology using a stolen credit card. The company was contacted by the Davis County Police Department in California, who told BitArts of the fraudulent transaction and asked the company if it could help trace the transaction.
When using BitArts’ software, a digital fingerprint is created during a credit card purchase transaction, which is a snapshot of the unique software/hardware identifiers taken from the PC, such as the CPU and Hard Disk IDs. This fingerprint is stored in the company’s database along with details of the transaction, in accordance with data protection legislation.
During the fingerprinting process, a trace is also performed that records valuable IP details about the end user’s physical location. This trace route method is powerful enough to prevent a user from blocking it and regardless of any ‘alien’ proxy servers that may be used it will trace the user back to their ISP.
BitArts successfully traced the transaction back to the end user with these identifiers. As a result the suspect was issued with warrants by the Davis County Police allowing them to seize the suspect’s goods. The police retrieved numerous items including a PC, which were passed on to the local hi-tech crime unit who plan to use BitArts’ information to locate reports on the suspect’s PC for the prosecution.
A date for trial is still pending.
John Safa, BitArts Founder and CTO said: "People would consider it suspicious to walk into a bank with a balaclava on so why should Internet retailers have to endure the same anonymous threat? The only barrier in stopping credit card fraud is privacy but tell that to many credit card users who have statements littered with fraudulent transactions each month.
“The Internet might be considered to be a graveyard of defunct dot-coms but the second generation Internet is ideally suited to software distribution and license activation. The problem of credit card fraud will destroy software company revenues and indirectly cost credit card holders more as the banks absorb the price of fraud.
“BitArts has developed a patent-pending technology based around common sense which in our first few months of going live has proven to be deadly effective. This technology doesn't replace the use of PKI solutions, typically used to encrypt credit card details, but complements them by deterring credit card fraud from the onset.”
BitArts is a software development company that is focused primarily on the development of protection, security and encryption software providing solutions for the secure delivery of software applications and digital content, digital rights management and license management over the Internet. BitArts’ suite of products incorporate the functionality for the successful management and distribution over the Internet of secure and protected software and digital content, copyright and licensing protection as well as the collection of royalties from such content.
The company was founded in 1998 by Chief Technology Officer, John Safa and now boasts an impressive management line-up which includes Danny Chapchal as CEO and Dr Sheryl Chavers, former US Undersecretary of Commerce for Science and Technology in the Clinton Administration, as Chairperson. BitArts is headquartered in Nottingham, UK with customers in more than 65 countries. BitArts has patents pending on ten core technologies, the basis of the company’s unique digital security offering.
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