PayPal to Buy Fraud Sciences for $169M

[hepper65]

PayPal to Buy Fraud Sciences for $169M
Monday January 28, 7:04 am ET
EBay's PayPal to Purchase Israeli-Based Fraud Sciences for About $169 Million


SAN JOSE, Calif. (AP) -- Online auctioneer eBay Inc. said Monday its PayPal division will purchase Israeli online risk tools company Fraud Sciences Ltd. for about $169 million.
The acquisition of privately held Fraud Sciences will be used to enhance Web site safety, eBay said.

Fraud Sciences founders Shvat Shaked and Saar Wilf and Chief Operating Officer Yossi Barak will join PayPal's technology and fraud management teams. President and Chief Executive Gadi Maier will offer strategic and operational support during the transition period.

EBay said it does not expect the transaction to materially impact its 2008 outlook.

The acquisition is expected to close within 30 days.

[topazcorp]

What's this system suppose to do that they're not already doing?

[ivegotinfo]

check if you changed your underwear today, if not it's instant ban.

[ebayhateluv]

Or, Maybe thats how theyre gonna start getting tough on overseas PP acct holders??
--Didnt somwone say the other day-- how easy it was in Canada?
--So maybe these guys will lead the out of usa div??

[koalawash]

BRING IT ON!!!!

[hepper65]

I think they purchase the company to make ebay and paypal fraud detection collaboration seamless. They purchased the company for safety and trust department's exclusive use looks like. More explanation from their press release below.

SAN JOSE, Calif. & TEL AVIV, Israel--(BUSINESS WIRE)--eBay Inc. today announced that PayPal has agreed to acquire Fraud Sciences Ltd., a privately-held Israeli company with expertise in online risk tools, in a cash transaction with an aggregate transaction value of approximately $169 million. Fraud Sciences’ risk tools and analytics are expected to enhance eBay and PayPal’s proprietary fraud management systems and accelerate the development of next generation fraud detection tools.

The acquisition of Fraud Sciences fits into eBay’s recently announced plans to significantly improve trust and safety across its sites in 2008. “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.

About Fraud Sciences

Fraud Sciences is a leading innovator in online risk tools. Following years of intensive research, Fraud Sciences has developed a technology that differentiates between real and fraudulent transactions with unprecedented accuracy. Using this groundbreaking technology, Fraud Sciences offers a unique transaction verification service to manage online fraud. Fraud Sciences is funded by BRM Capital, Redpoint Ventures and other US and Israeli investors

[aspkin]

The only problem I see is once eBay and Paypal 'seamless' talk to each other. It could be a little harder to manage multiple eBay and Paypal accounts. THe protection you do with your eBay accounts, you'll have to start doing with your Paypal accounts. That means watching Ip address and deleting cookies a lot more. Other then that, it could help sellers with fraud.

[Chris Hanson]

Ebay is contradicting themselves. First they do a press release and stated that fraud is less then 1% of all transaction, so why spend another $169 million on antifraud measures? Doesnt makes sense to me or justify the cost..

[leonid5000]

MAC address will be big update in security as well as some other small durty tricks.
Again the only safe way to be on ebay and paypal is to do identiti theff. They cannot do anything against that.
Ony strong will survive. Identy theff is big bussines in mexico and usa. There are planty of hackers on internet that wuld be happy sell you some good staff.

[koalawash]

I think it's easy enough to spoof MAC addresses anyway.

[Chris Hanson]

That is very true^^^

[koalawash]

leon, I'm starting to understand why your rep is so low here..

[topazcorp]

Originally Posted by koalawash

I think it's easy enough to spoof MAC addresses anyway.

Actually it's easier than changing your ip addresse Other than that does anybody know if they monitor anything else new? I'm actually doing really good with my accounts and I don't want to lose them...

[ebayisanecessaryevil]

HOw do we spoof mac addresses?

[topazcorp]

Here's a good tutorial about that: How do I change a MAC address?

[ebayhateluv]

Leonid:
Dont fret- My husband is Extremely intelligent, most folks call him a Geek.
BUt, Bill Gates was a Geek once.. huh?

[leonid5000]

just got comment on my thred .....advocating identity theft-----and red dot... I wonder who wrote that comment.. If you use gift cards and you put the name thats not yours is not identity theft and faking documents ? This forum is all about identity theft is just no one is saying this word. This is example of American sociology. This is holly peoples forum... Sorry people im not in the mood today.. ;-) BTY if any one need any program for free pm me.