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Saturday, February 02, 2008

Israel's Fraud Sciences To Make eBay Safer?

Often seen as the prime spot to shop online, eBay is one of the largest tech companies online (at least as far as shopping goes).

Unfortunately in this day and age, there are plenty of scam artists out there who are attempting to rip off online consumers with fake deals and transactions, which can be quite a headache for companies like eBay.

In order to curb this problem, eBay (through PayPal) has purchased Fraud Sciences, a company based in the holy land.

(TechCrunch) Israel and Palo Alto based Fraud Sciences offers automated anti-fraud systems including Spotlight VFX and Spotlight T2T, merchant solutions the provide transaction verification with fraud prevention. In an October 2007 profile, Israelplug said that Fraud Sciences products "help online retailers verify the identity of buyers and accept orders that they would have seen as suspicious in the past - thus enabling them to increase their sales."

eBay said the acquisition will assist them in significantly improving trust and safety across its sites in 2008. Fraud Sciences' risk tools will be integrated with Paypal fraud management system.

This will come as good news to places like Ghana and Nigeria, which are known for being rampant with consumer fraud online.

eBay's purchase will help legitimate buyers from "troubled nations" buy the goods they need, instead of being blacklisted entirely by merchants because of "bad history" when it comes to online transactions.

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