Valentin Boanta has served six months of his five-year sentence. His crime was supplying gadgets to an gangs who used them to conceal ATM skimmers. According to him, the devices were made for the sheer excitement, he never planned to use them himself. After his arrest in 2009 Valentin realized felt an urge to make amends for his actions and came upon the idea of building the SRS (Secure Revolving System). “All ATMs have ageing designs so they are prone to vulnerability, they are a very weak side of the banking industry,” says Valentin. “Every ATM can be penetrated through a skimming crime. My security solution, SRS, makes an ATM unbreachable.”
The Secure Revolving System can be installed on existing and new ATM models. It allows the bank card to be inserted longer side first and then rotates it to prevent skimmers being able to lock on to the magnetic data strip. The system returns the card to its user with a reverse rotation. The card is inserted on its width and therefore cannot be copied by skimming devices which capture data on the magnetic tape sequentially along its length.
MB Telecom funded and developed the SRS technology. The technology is patented and has won an award at the International Exhibition of Inventions in Geneva this year. The inventor and company are yet to release the cost for the SRS but promise to make it available soon. SRS co-inventor and MB Telecom president Mircea Tudor commends Valentin Bontana saying, “He fully deserves such recognition. He’s taking part in improving Romania’s image abroad and he’ll surely join our team when released.”
via Reuters
