Nestor to Participate in IAFCI Conf for eFraud Prevention

Nestor Inc announced the Company's participation at the International Association of Financial Crimes Investigators (I.A.F.C.I.) Annual Training Conference. Hosted by Northern California Chapter of I.A.F.C.I., the conference will be held at the Monterey Conference Center in Monterey, California, August 29 to September 1, 2000. The focus of the conference is the "New Wave of Fraud" and will concentrate on the environs of cyberspace and how the Internet's anonymity and immediacy mandates dynamic, real-time fraud management.

John McKenna, Director of Business Development for Nestor, will deliver an in-depth "best-practices" case study entitled: Online payment Fraud: Cutting-edge Tools and New Technologies for Real-time Detection. Mr. McKenna's talk will focus on the scope of online fraud and how advanced fraud detection solutions use neural networks to prevent and deter the risks associated with this new payment medium. The presentation will take place on Thursday, August 31.

"Today's financial services, B2C and B2B companies face a new wave of fraud schemes, perpetrated online by Web-savvy criminals," said Sushmito Ghosh, president of NestorCommerce. "To thrive in the new consumer economy, organizations need powerful and innovative fraud control solutions tailored specifically for online payments. The annual I.A.F.C.I. conference has historically provided an ideal forum for the exchange of practical ideas about fraud control, and the quality of this year's program promises to continue that tradition."

At the conference, NestorCommerce, in conjunction with its global alliance partner ACI Worldwide, will exhibit its recently introduced PRISM eFraud solution. PRISM eFraud is a state-of-the-art fraud detection system that detects, and provides immediate management response to, fraudulent online transactions. Combining predictive neural network fraud models and userdefined rules-based strategies, PRISM eFraud provides an ideal risk management solution for Web-based payments, and allows merchants to boost overall order acceptance and maximize profitability.

Nestor and ACI will also demonstrate the latest enhancements to the PRISM Money Laundering Detection solution. PRISM Money Laundering Detection utilizes Nestor's patented neural network risk modeling technology and expert rules to monitor "universal accounts"--accounts that tie together the various bank accounts to which individuals and businesses have access--and alert bank officials to possible money laundering activity.

About NestorCommerce

NestorCommerce is a division of Nestor Inc, a leading provider of intelligent decision-support solutions for the financial services and e-commerce industries. Nestor's client/server products incorporate innovative pattern-recognition technologies ideally suited for data-intensive, real-time decision applications. The company's products provide predictive fraud detection and case management for e-commerce fraud, credit, debit, retail and commercial card fraud, as well as merchant fraud, money laundering and customer relationship management. Nestor products are sold direct and by selected partners worldwide. Through its affiliate, Nestor Traffic Systems, Inc, the company also applies its technologies to a suite of video-based intelligent transportation systems that promote enhanced traffic management and improved safety. For more information, call 401-331-9640 or visit www.nestor.com.

Contact Nestor Inc, Tom Spillane, 401-331-9640, tspillane@nestor.com.