Electronic Seal for Protection of Electronic Money in Sweden, Finland and Norway (From Electronic Crime Countermeasures, P 135-140, 1986, John S Jackson, ed. - See NCJ-102815)

• NCJ Number: 102822
• Author(s): C Linden
• Date Published: 1986
• Length: 6 pages
• Sale Source: University of Kentucky
• Publication Type: Program/Project Description
• Language: English
• Country: United States of America

Annotation

A new security standard for the detection of criminal interference in the transmission or storage of electronic data processing-based payment media and systems is being used by banks and corporations in Sweden.

Abstract

Called the 'Electronic Seal,' the standard is a software algorithm with cryptological properties that is able to calculate a security total (the seal itself), that in conjunction with a secret key, totaling a maximum of 35 digits, provides a means of determining whether stored data have been tampered with. The protected information remains in clear, legible text. In addition to providing protection or 80 million electronic fund transactions annually, the seal also is used to protect against double inputs, conduct verifications, and protect in-house files and program libraries. Banks in Norway and Finland also are using the seal system, and insurance companies in Sweden provide a 10-percent discount on computer fraud and crime coverage to corporations that have secured their payments by this method. Seal software is available for most large computers and for some personal computers at costs ranging from $200 to $8,000. The seal software also has been incorporated into a number of commercially available software packages for accounts payable and salary deposits.