New weapon of PayPal in struggle against fraudsters

EBay, the name of which is on everybody's lips, yesterday made another announcement on purchasing of Israeli company "Fraud Sciences" for $169 million. This company deals with the development of technologies on fraud detection in electronic payment systems and offers automated anti-fraud systems including SpotLight VFX and SpotLight T2T.

"Integrating Fraud Sciences' risk tools with PayPal's sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal's hundreds of millions of customers around the world," said Scott Thompson, president of PayPal.

Not only tools will be integrated into PayPal system. Immediately after completing the present a acquisition the founders of Fraud Sciences Ltd Shaked and Saar Wilf along with Chief Operating Officer Yossi Barak will join PayPal's technology and fraud management teams to struggle against the fraudsters. This purchase is expected to be completed within 30 days and have not any significant influence on eBay's financial position.