Ebay bids on Fraud Sciences

ISRAELI TECH firm Fraud Sciences Ltd. has announced it will be assimilated by online payment service company Paypal (of late by eBay). Fraud Sciences majored in online risk tools and has its own unique transaction verification service to manage online fraud – the company’s expertise will be absorbed into the PayPal hivemind as soon as possible.

The deal will cost eBay in the region of $169 million; a tidy sum that we’re sure won’t be transferred via PayPal. Eerily similar to auctions on eBay, the release reports that “this acquisition, which is subject to the satisfaction of certain conditions, is expected to close within the next 30 days.” – at least they have a sense of humour.

Tools and technology are all right and fine, but they seldom factor in the blatant disregard scammers have for something called “The Law”, in particular when it comes to depriving people of hard-earned money through auction fraud.

Maybe PayPal and eBay will start distinguishing offenders from fraud victims, this time. And if all else fails, you can always try your hand at the Art of Scam Baiting. µ