BIG_dif

[jya@pipeline.com (John Young)]

   7-19-96. NYP: 
 
   "AT&T and Wells Fargo Investing in an Electronic Cash 
   Card." 
 
      The companies said that they would form the American 
      affiliate of Mondex. Any one with a Mondex card can 
      transfer electronic cash to anyone else with a card. 
      This flexibility has raised concerns both about the 
      possibility of counterfeiting and of money laundering. 
      Because of these concerns, Mondex has been modified in 
      the United States so that banks will be able to track 
      card use. That will allow them to audit for fraud, if 
      not recreate every transaction. Data from Mondex cards 
      will be used for various product marketing. 
 
      "We believe there should be privacy, but there is a big 
      difference between privacy and anonymity," Dudley Nigg, 
      executive vice president of Wells Fargo, said. 
 
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