CryptoLogic, WagerLogic Fight Fraud With Ethoca
September 15 2008 - 2:00AM
Marketwired
ALL FINANCIAL FIGURES ARE IN US$
CryptoLogic Limited (TSX: CRY)(TSX: CXY)(NASDAQ: CRYP)(LSE:
CRP), a leading software developer to the global Internet gaming
market, announced today that it has joined a global fraud-fighting
community operated by Ethoca Limited. Ethoca will work directly
with WagerLogic, the CryptoLogic subsidiary that licenses the
company's acclaimed Internet gaming software and services to many
of the world's top Internet casino and poker sites.
The agreement provides WagerLogic with the ability to accept
more valid player deposits - meaning reduced fraud for its
licensees, enhanced protection for its players and increased
revenue for the company.
"Our business is built upon the twin pillars of integrity and
innovation, and that's why we look for innovative approaches to
protect the integrity of our business," said Antony Demetriades,
Managing Director of WagerLogic Ltd. "Fighting fraud is both a
challenge and an opportunity - for our multi-billion-dollar
industry, our customers, our players and our bottom line."
Ethoca is driving collaboration for fraud management in
e-commerce and other customer-not-present environments, including
phone, fax or mail-order. By securely connecting its members to a
collective pool of member-provided payment experience information,
Ethoca enables its members to make more informed decisions about
their customer transactions in a way that is efficient, effective
and ethical, and in a way that is not a competitive threat.
Headquartered in Dublin, CryptoLogic pioneered today's
multi-billion-dollar global Internet gaming market more than a
decade ago. The company has earned widespread acclaim for its
Internet casino software, earning Gambling Online Magazine's Top
Casino Software Award in each of the last three years. Based on the
votes of players from around the world, this is widely considered
the industry's top honour.
"CryptoLogic and WagerLogic are the pioneers of the global
Internet gaming space," said Andre Edelbrock, CEO of Ethoca. "In
the same way that CryptoLogic continually advances the future of
online gaming, we look forward to their participation in helping to
build the Global Fraud-Fighting Community powered by Ethoca. We
applaud CryptoLogic for leading the way and encouraging other
companies to join the collaborative fight against fraud."
WagerLogic, based in Cyprus, licenses CryptoLogic-developed
software and services to an exclusive group of the world's most
trusted gaming and entertainment brands, including InterCasino,
William Hill, Maharajah Club and 888.com. WagerLogic has processed
more than US$54 billion in secure electronic transactions for over
2.5 million players worldwide. The company has earned widespread
acclaim for its customer service, including winning the title of
Best Contact Centre in Europe, the Middle East and Africa from
ContactCentreWorld.com.
About CryptoLogic� (www.cryptologic.com)
Focused on integrity and innovation, CryptoLogic Limited is a
world-leading, blue-chip public developer and supplier of Internet
gaming software. Its leadership in regulatory compliance makes it
one of the very few companies with gaming software that is
certified to strict standards similar to land-based gaming.
WagerLogic� Limited, a wholly-owned subsidiary of CryptoLogic, is
responsible for the licensing of its gaming software and services
to blue-chip customers who offer their games around the world to
non-U.S. based players. For information on WagerLogic, visit
www.wagerlogic.com.
CryptoLogic's common shares trade on the Toronto Stock Exchange
(CRY, CXY), the NASDAQ Global Select Market (CRYP) and the Main
Market of the London Stock Exchange (CRP).
About Ethoca
Working in partnership with forward-thinking businesses,
individuals and law enforcement, Ethoca is making e-commerce safer
and more profitable by building and powering the Global
Fraud-Fighting Community.
To be more successful in combating fraud, companies must
collaborate across and within industries by securely sharing
transaction experiences in a way that is not a competitive threat.
Ethoca enables businesses that operate in customer-not-present
environments (Internet, phone, fax or mail) to make more informed
decisions about their customer transactions, by sharing transaction
experience data in a way that is secure, automated, effective and
ethical. Community members see reduced fraud, lower fraud-related
costs, increased revenue from fewer wrongly rejected orders and
improved customer satisfaction rates.
Ethoca(TM) is a registered trademark of Ethoca Limited. For more
information about Ethoca visit www.ethoca.com.
CRYPTOLOGIC FORWARD LOOKING STATEMENT DISCLAIMER:
Statements in this press release which are not historical are
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that all forward-looking statements involve
risks and uncertainties including, without limitation, risks
associated with the company's financial condition and prospects,
legal risks associated with Internet gaming and risks of
governmental legislation and regulation, risks associated with
market acceptance and technological changes, risks associated with
dependence on licensees and key licensees, risks relating to
international operations, risks associated with competition and
other risks detailed in the company's filings with securities
regulatory authorities. These risks may cause results to differ
materially from those projected in the forward-looking
statements.
Contacts: CryptoLogic Stephen Taylor Chief Financial Officer
35316641682 Argyle Communications Karen Passmore (North American
and gaming industry media) (416) 968-7311, ext 228
kpassmore@argylecommunications.com Argyle Communications Daniel
Tisch (North American and gaming industry media) (416) 968-7311,
ext 228 dtisch@argylecommunications.com Corfin Communications Neil
Thapar (UK media only) +44 207 977 0020 Corfin Communications
William Cullum (UK media only) +44 207 977 0020 Corfin
Communications Harry Chathli (UK media only) +44 207 977 0020
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