CO-OP Network To Help Finance Triple DESCompliance

September 08, 2004, 1:00 a.m. EDT 1 Min Read

ONTARIO, Calif. - (09/08/04) -- The CO-OP Network said it willdistribute up to $2.3 million in Triple DES ATM complianceincentives to member credit unions. The one-time distribution is tohelp member credit unions meet the financial industry mandate thatall ATMs use Triple DES (Data Encryption Standard) encryptionsystems by April 29, 2005. Triple DES technology will replace theSingle DES systems currently used by ATMs to protect user PINnumbers from fraudulent activity. Under CO-OP Network's Triple DESCompliance Incentive Program, member credit unions will receive adistribution for each ATM that is certified to be Triple DEScompliant by April 29, 2005.

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