1. Tell us about CrossCheck. How does it differ from similar check payment processing companies?
When two Canadian teenagers surfing the Internet found the manual for the ATM machine their bank stationed at their local mall they decided to see if they could hack into it. Following the manual’s instructions while standing at the ATM in the mall (on their lunch break from school, no less) they were able to launch the login for “operator mode” and promptly discovered that the bank had never changed the default password, which was conveniently included in the manual.
When an independent company with fewer than 100 employees comes under a cyber attack like the one that recently hit Target and Home Depot, it can expect to lose about $3.5 million just to deal with the situation – and that does not include compensation for lost opportunities or for the extreme psychological toll such an experience would certainly exact.
Have you ever been frustrated to get a red-alert email or call from your bank warning you of credit card fraud? I have, and while I am grateful for the precautionary steps the bank took in order to protect my account, it’s frustrating at the same time. First, because I was the victim of fraud. And second, because when they issue me a replacement card I have to re-save the new card information with all the online merchants I do business with.
The lights go down and the crowd goes wild. Striding up to the mic, dangling in the spotlight hitting the center of the ring, the MC looks around intently until the crowd quiets just a little, giving him his cue: