LONDON--(Marketwire - Oct 17, 2011) - John Petersen, Global Head of Business Development for ValidSoft, ([ www.validsoft.com ]) a wholly-owned subsidiary of Elephant Talk Communications, Corp., (OTCBB: [ ETAK ]) ([ www.elephanttalk.com ]) will speak at a Cards and Payments industry conference which ValidSoft is sponsoring on October 17 and 18 in Berlin, Germany. Petersen's topic will be: "Fostering Customer Trust Through Effective Fraud Management: Taking a Rounded Approach to Loyalty."

The event, at the Maritim proArte Hotel in Berlin, is a Marketforce conference. Its focus will include advanced payments and changing consumer behavior. ValidSoft has been closely associated with Marketforce's Cards and Payments events for the past two years. Attendees include senior industry representatives across retail banks, card processors, and systems integrators.

"Today's customers not only want the convenience of online and mobile banking and payments, they expect transaction security and privacy protection as well," Petersen said. "This conference will explore the many challenges today's financial services marketplace presents for banks, as well as solutions."

As an example of the organized threats to consumers and financial institutions, Petersen cited a recent news report of an ID theft ring in New York that stole credit card and matching personal data and made more than $13 million of purchases. The ring ranged from China to Europe and the Middle East and victimized thousands of consumers, authorities said.

For details, see: [ http://www.cbsnews.com/8301-504083_162-20117394-504083.html ]

"This case demonstrates, once again, the persistence and sophistication of international fraudsters," Petersen said. "To stop this type of card fraud, our industry must adopt more sophisticated tools, like ValidSoft's technology, that denies fraudulent transactions at the point of sale and safeguards privacy."

Based on data from expert studies, ValidSoft believes that financial losses to banks from actual fraud are in the billions of pounds per year. Among the rising and persistent threats are phishing attacks, mobile phone hacking, fraudulent consumer alerts, and breaches in data security at banks and retailers.

ValidSoft is a global supplier of fraud prevention, authentication and transaction verification solutions.

In recent developments, ValidSoft has been awarded its second European Privacy Seal by EuroPriSe for its VALid® Standard Edition. The award followed evaluation by independent experts and validation by an official certification body, EuroPriSe.

In addition, the company patented fraud detection, prevention and resolution solutions will be offered to Adeptra's clients. Adeptra is a global leader in offering these types of services whose clients include at least half of the top 10 North American and UK card issuers, as well as four of the top five in Australia.

ValidSoft's proximity correlation logic minimizes the number of inappropriately declined cross-border transactions and, subsequently, improves fraud discovery rates. This results in vastly improved operation cost efficiency for issuers, increased interchange fee revenue, reduced fraud levels and, critically, a greatly improved customer experience with legitimate transactions identified within one second.

About Elephant Talk Communications
Elephant Talk Communications Corp. (OTCBB: [ ETAK ]) is an international provider of business software and services to the telecommunications and financial services industry. The company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit ([ www.elephanttalk.com ]).

About ValidSoft
ValidSoft is a subsidiary of Elephant Talk Communications Corp. (OTCBB: [ ETAK ]), ([ www.elephanttalk.com ]) and is a market leader in providing solutions to counter electronic fraud relating to card, the internet, and telephone channels. ValidSoft's solutions are at the cutting edge of the market and are used to verify the authenticity of both parties to a transaction (Mutual Authentication), and the integrity of the transaction itself (Transaction Verification) for the mass market, in a highly cost effective and secure manner, yet easy to use and intuitive. For more information, please visit ([ www.validsoft.com ]).

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