WALL, N.J., June 8, 2011 (GLOBE NEWSWIRE) -- BIO-key International, Inc. (OTCBB:BKYI), a global leader in finger biometric identification technology solutions, today announced the results of an opt-in survey that was linked to our recent Open Letter to Shareholders, Customers & Industry Leaders on the State of Security and Biometrics; discussing the recent outbreak of security breaches occurring at highly notable companies. The results of the survey are noted below.
"Although we anticipated securing the activity which takes place on the internet would present challenges, none of us ever imagined that the security systems for best in class companies would be affected. Today, we're seeing just how vulnerable everyone is. The internet is extremely critical to business and government; therefore identifying a secure solution is a priority. Experience has proven that when a biometric element is incorporated, security improves and threats decrease," stated Thomas Bush III, former Assistant Director, FBI and Strategic Advisor to BIO-key.
The Audience: The press release which included the opt-in survey was distributed in the United States via GLOBE NEWSWIRE. A newsletter version of the press release was also distributed to a list of 2,500 industry leaders. As of Tuesday June 7, 2011 one hundred and sixty seven (167) visited the survey.
SURVEY RESULTS
44% of the participants stated they had a lack of confidence in their current security system.
36% of the participants stated they are reviewing their security process within 6 months.
79% use passwords & 24% use pins
94% of the participants stated that their company's security system would be better if it
included finger biometrics.
45% fear internal threats to security – 36% external
The time has come for every commercial and government enterprise to recognize that traditional methods of security are no longer a deterrent to hackers and cyber thieves. Recent security breaches have proven that tokens are far too vulnerable, especially in cases where the data or information is mission critical and passwords, no matter how sophisticated, are easily compromised.
"Frankly, there is no longer time to wait. The outbreak of security breaches poses a threat to our nation's infrastructure; from business to government, everyone is at risk and it seems that we're simply waiting for a disaster before taking action. It's very concerning," stated Mike DePasquale CEO, BIO-key International. "Since our initial communication on June 2nd there have been additional data breaches, including incidents at Sony, Nintendo, and at Infraguard, an FBI affiliate partner."
BIO-key International Inc. provides software tools and applications for companies such as AT&T, IBM, Computer Associates, and Oracle. The FBI, US Court System and international partners rely on BIO-key biometric software to support large scale identification projects.
"It's apparent that we must continue to educate the market and we welcome every opportunity to forward the understanding of biometric technology. Ideally this announcement will open the paths of communication between BIO-key's team of experts and the companies and government agencies that might benefit from incorporating biometric technology as part of their strong authentication solution set," said Scott Mahnken, VP of Marketing, BIO-key International.
About BIO-key
BIO-key International, Inc., headquartered in Wall, New Jersey, develops and delivers advanced identification solutions to commercial and government enterprises, integrators, and custom application developers. BIO-key's award winning, high performance, scalable, cost-effective and easy-to-deploy biometric finger identification technology accurately identifies and authenticates users of wireless and enterprise applications. Our solutions are used in local embedded OEM products as well as some of the world's largest identification deployments to improve security, guarantee identity, and help reduce identity theft. BIO-key's technology is offered directly or by market leading partners around the world. (http://www.bio-key.com)
BIO-key Safe Harbor Statement
Certain statements contained in this press release may be construed as "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 (the "Act"). The words "estimate," "project," "intends," "expects," "anticipates," "believes" and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbor" provisions of the Act. These statements are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of these statements. These risks and uncertainties include, without limitation, our history of losses and limited revenue, our ability to develop new products and evolve existing ones, the impact on our business of the recent financial crisis in the global capital markets and negative global economic trends, and our ability to attract and retain key personnel. For a more complete description of these and other risk factors that may affect the future performance of BIO-key International, Inc., see "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2010 and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. The Company also undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.