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Monkeetech announced today that their patent pending “EyeWatch” System, which uses iris scan biometric technology to combat credit card fraud, has been expanded to encompass ATM transactions as well.

June 10, 2013

Jeffrey N. Dinardo, Jr. CEO of Monkeetech,LLC, a subsidiary of Quality Door & Hardware, Inc., today announced that the company’s existing patent pending “EyeWatch” credit card fraud prevention system has been expanded to include a patent pending system to prevent ATM and wire transfer fraud as well.

Monkeetech’s patent pending “EyeWatch” System incorporates iris scan biometric technology to prevent credit card fraud at point-of-sale transactions; internet purchase transactions and purchase transactions over mobile devices. In an amendment to that provisional patent granted today, Monkeetech expands its “EyeWatch” System to include fraud prevention at ATMs and for wire transfer transactions.

“The granting of this amendment today allows Monkeetech’s “EyeWatch” System to effectively close the loop on almost all credit card payment and funds transfer transactions” states Jeffrey N. Dinardo, CEO of Monkeetech. “It represents a major step in our overall strategy to prevent credit card fraud”.

Kenneth Carnesi, who sits on the Board of Monkeetech and also the Board of The Lazarus Organization, a private international business consulting firm which is advising Monkeetech in its global marketing of “EyeWatch”, calls this latest development “absolutely brilliant”. ” ‘EyeWatch’ now has the potential to impact several different segments of the market and affords a genuine opportunity to put a real dent in credit card fraud, a truly global plague”.