CyberSource fraud detection radar

LAHORE - CyberSource, a Visa company (NYSE: V), Tuesday announced availability of the worlds largest real-time fraud detection radar, empowering online merchants to pinpoint fraud faster, more accurately and with less manual intervention, says a press release. This advance enables merchants to conduct more accurate analyses of their inbound orders, including comparison of those orders to the over 60 billion transactions Visa and CyberSource process annually, including orders that were confirmed to be fraudulent. Data insight derives from transactions across multiple payment types and from merchants worldwide, spanning online, call center, mobile and POS sales channels. The transaction data is supplemented by 200 validation and correlation tests. This solution effectively expands the depth and breadth of transaction pattern visibility. The new development comes at an opportune time. eCommerce merchants say fraud became more sophisticated and harder to detect in 20101, and this challenge is likely to grow. 90pc of online thieves are now associated with organised crime, and botnet infections (software enabling fraudsters to secretly control innocent consumers computers) are growing at a rate of approximately 200,000 per day. The ability to accurately detect fraud in such a sophisticated criminal environment requires correlating vast amounts of information to detect subtle anomalies.

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