NEW ANTI-CARD FRAUD TEAM LAUNCHES

4 July 2008

Fraud prevention experts join forces to beat card fraud


Two providers of customer ID check solutions and transactional fraud profiling data are to combine and share their anti-fraud technologies, providing a unique anti-fraud service to merchants the joint venture announced this week.

192.com Business Services specialises in aggregating databases against which e-commerce providers run customer identity checks. Fraud prevention specialist, the 3rd Man, is a provider of fraud screening services which detect fraud patterns by comparing transactions from different merchants. Fraud prevention tools provided by both companies have become accepted as de facto processes for the ecommerce industry and will now be offered as an integrated service.

Other recent fraud prevention initiatives have focussed on either ID checking or on profiling shared fraud alert data, but not on both a spokesman said this week. The 192.com Business Services and the 3rd Man’s relationship brings both tools into a single solution. Such an approach is practical because it implements a single technical interface to receive the benefit of a combined ID and pooled data solution.

“Our mutual aim is to make life easier for fraud managers at ecommerce and online gambling sites,” said Paul Simms, Chief Executive Officer at the 3rd Man. “192 and the 3rd Man already deliver fraud prevention capabilities to many of Europe’s leading ecommerce businesses. By combining our fraud prevention technologies we can now offer one integrated solution that will be even more effective in identifying and preventing fraud.”

Commenting, Ian Green, director at 192, said: “There has been much talk about data sharing initiatives recently. Data sharing on its own is not a silver bullet but when coupled with customer identity verification the solution becomes immensely effective. The large existing customer base of 192 and the 3rd Man will be able to participate with minimal technical investment."

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