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Elephant Talk Communications, Inc. (OTC BB: ETAK), an international telecom and multimedia content distributor, specialized in carrier grade mobile enabling platforms, today announced that it has entered into a letter of intent to acquire controlling interest in ValidSoft Limited. ValidSoft is an emerging global leader in preventing electronic bank theft, credit card fraud, and identity theft. Through its proprietary software, ValidSoft provides strong mobile authentication, transaction verification capabilities and location based services. ValidSoft’s software allows organizations to quickly implement solutions that protect against the latest sophisticated fraud.

The full report can be viewed by clicking the link below.

Newcastle Permanent Building Society, Australia’s largest building society, has scooped a prestigious Money Magazine “Best of the Best” award for VerifID, their branded implementation of ValidSoft’s VALid authentication platform.

The full report can be viewed here.

Ireland-based ValidSoft is all set to offer their unparalleled solutions to Indian financial institutions. Allied CNT Solutions, an Allied Digital’s subsidiary unit, will be the exclusive distributor for ValidSoft in India. Cindy Nicholson, Managing Director –Asia Pacific, ValidSoft said, “Our unique and best-of-the-breed solutions will be effectively routed through Allied CNT’s excellent service, sales, pre/post sales support and technical skills.VALid, a real time, out-of-band, multi-factor authentication solution with highest level of integrated authentication security will be targeted to financial institutions, government, and corporate houses in India.”

The full report can be viewed here.

APACS, the UK payments association, have recently released the UK fraud figures for the first six months of 2008 which show alarming increases in fraud across virtually all areas. Key statistics are the 185% increase in Online banking fraud, and the fact that cross-border card-present fraud, typically at ATMs and Point of Sale, accounts for more than 40% of all card fraud losses. Cross-border card-present fraud has now increased by 190% over the last three years but perhaps more worrying is the fact that card-present fraud perpetrated within the UK, where Chip and PIN is in use, has also risen significantly.

The full report can be viewed here.

ValidSoft's flagship product, VALid is a multi-factor, multi-channel authentication and transaction verification solution.

The product is targeted primarily at banking and financial services companies. Several banks provide hardware token security besides the basic password protection to their online banking customers. But since both pieces of information travel through a single band, it is vulnerable to attacks from sophisticated hackers often termed as man-in-the-middle or man-in-the-browser. In such cases, the attackers can siphon off funds without the knowledge either of the banker or of the customer when transaction takes place.

The full report can be viewed here.

ValidSoft (www.validsoft.com) are pleased to announce the opening of their new Headquarters in Ireland.  The official opening was presided over by the Minister for Finance, Mr. Brian Cowen who officially announced the opening of the new Head Office at Castle Buildings, Tara Street, Tullamore, Co.Offaly on Tuesday October 16th.2007.

ValidSoft (Australia) Pty Limited (22^nd October 2007) – ValidSoft Limited, a leading supplier of Strong Authentication and Transaction Verification solutions is pleased to announce that Newcastle Permanent Building Society, NSW Australia, has successfully implemented and gone live with ValidSoft’s flagship product, VALid^®.

ValidSoft and ABC have partnered to offer Financial Institutions throughout South East Asia, the highest level of integrated authentication security through VALid®, the industry leading, Real Time, Out of Band Multi-factor Authentication solution from ValidSoft.

Following the announcement of their formal partnership in 2006, ValidSoft and Sandstone Technology today launched their multi-factor, multi-channel solution available through the integration of their flagship products, VALid® and BankLink.

ValidSoft (Australia) Pty Limited is expanding their local team to support the Asia Pacific region and relocating to larger offices to accommodate this growth.

ValidSoft and Sandstone Technology have partnered to offer Sandstone clients the highest level of integrated authentication security through VALid ® , the industry leading, Real Time, Out of Band Multi-factor Authentication solution from ValidSoft.

ValidSoft and Ethan Group have partnered VALid ®, the industry leading, Real Time, Out-of-Band Multi-Factor Authentication solution from ValidSoft and the established managed services facilities of the Ethan Group to offer the first industry utility service of its kind in Australia.