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PayPal To Acquire Fraud Sciences To Improve Risk Management |
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Written by Daniel
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Monday, 28 January 2008 |
Fraud Sciences' technology will be used to enhance the fraud management systems at both PayPal and eBay.
By W. David Gardner
InformationWeek
January 28, 2008 11:00 AM
PayPal reported Monday that it has offered $170 million in cash to acquire Fraud Sciences Ltd., an Israeli company that develops online risk and security tools.
PayPal, a unit of eBay (NSDQ: EBAY), will use Fraud Sciences' technology to enhance the fraud management systems of both PayPal and eBay. The Israeli firm's risk tools and analytics also will be targeted at accelerating the development of advanced fraud detection tools.
Founded by former Israeli intelligence experts, Fraud Sciences has been able to sort out legitimate bidders from suspicious bidders and in the process makes it possible for sellers to be able to clear additional legitimate bidders to participate in online transactions. [Comments]
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