Anti-fraud experts join forces

Data sharing initiatives should help in the reduction of fraudulent transactions

Fraud prevention firm The 3rd Man has joined forces with 192.com Business Services to share anti-fraud technologies with e-commerce and online gambling operators.

The two providers of customer ID check solutions and transactional fraud profiling data are to combine and share their anti-fraud technologies.

192.com Business Services specialises in aggregating databases against which e-commerce providers run customer identity checks.

The 3rd Man provides screening services which detect fraud patterns by comparing transactions from different merchants.

Fraud prevention tools provided by both companies will now be offered as an integrated service.

Other similar initiatives have focused on either ID checking or on profiling shared fraud alert data but not both, the firms argue.

Such an approach is touted as a means of implementing a single technical interface to receive the benefit of a combined ID and pooled data solution, the companies said.

"Our mutual aim is to make life easier for fraud managers at e-commerce and online gambling sites," said Paul Simms, chief executive at The 3rd Man.

Ian Green, director at 192.com, added: "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."