May 1
2010
Special Focus: Fraud – Bank Robbers Now Work Online
Ori Eisen of 41st Parameter looks back over 2009 and highlights
the top five financial security threats which emerged as the biggest
money makers for fraudsters and where he believes they will make
their next move.
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April 20
2010
Leading Fraud Prevention Companies Join Forces to Stop Fraud Before it Happens
Ethoca Limited and 41st Parameter Inc., two leaders in the fraud detection and prevention space, have announced 41st Parameter’s support for Ethoca’s recently-announced free E360 Negative Signals service. FraudNet users can utilize E360 information to help improve the accuracy of their transactional review decision.
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April 13
2010
Adobe Flash Player Private Browsing May Force Change in Fraud Fight
A report from Gartner highlights how the reliance on Flash cookies as an authentication mechanism by online banks may need to change with the release of Adobe Flash Player 10.1. Flash Player's "Private Browsing" feature will make it easier to clear Flash cookies, and e-commerce businesses will need to adjust, some say.
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April 13
2010
Adobe Flash Player privacy features may cause headaches for Web merchants
Features intended to provide better privacy for users of the upcoming Adobe Flash Player 10.1 may end up being a hindrance for online merchants and banks that drop Flash cookiesonto a user's computer to identify returning customers.
Ori Eisen, chief innovation officer at fraud detection vendor 41st Parameter, notes that both Flash cookies and regular cookies have been used for customer identification and tracking by Web merchants and banks for years. Adobe Flash Player 10.1, which Adobe plans to ship by midyear, will include support for the private browsing feature found today in many Web browsers. That's good for users, but the prospect of losing Flash cookies could pose problems for businesses online that use the technology to identify and track visitors, Eisen says.
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April 13
2010
41st Parameter Selected by AlwaysOn as an OnDemand Top 100 Winner
41st Parameter Inc., the leading provider of online cross-channel fraud detection and prevention solutions today announced that it has been chosen by AlwaysOn as one of the OnDemand Top 100 winners. Inclusion in the OnDemand 100 signifies leadership amongst its peers and game-changing approaches and technologies that are likely to disrupt existing markets and entrenched players. 41st Parameter was specially selected by the AlwaysOn editorial team and industry experts spanning the globe based on a set of five criteria: innovation, market potential, commercialization, stakeholder value and media buzz.
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March 9
2010
41st Parameter Names David Walker SVP Worldwide Sales
Scottsdale, Ariz. March 9, 2010. 41st Parameter Inc., the leading provider of online cross-channel fraud detection and prevention solutions, today announced that David Walker has joined its executive management team as senior vice-president of sales. Walker assumes responsibility for 41st Parameter’s global field operations at a time of accelerating multi-national deployments by existing clients as well as growth in overall market demand for effective and durable web fraud prevention solutions.
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Feb. 11
2010
41st Parameter Extends Fight Against Online Fraud Through Expanded Operations in Europe
41st Parameter, the leading provider of web fraud detection and prevention solutions, today announced the expansion of its European presence with the opening of a new office in Munich, Germany. The company simultaneously announced the appointment of information security veteran David Curran as vice president of its EMEA region with overall responsibility for sales, marketing and customer support. The announcement underscores the success of 41st Parameter’s original sales office based in London. With the addition of the new Munich facility the company is now positioned to address the escalating demand for its online fraud detection and intervention solutions throughout Europe and the Middle East.
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February 5
2010
January 29
2010
Bank Account Fraud? There's An App for That
Mobile banking once entailed little beyond the ability to receive a text message with your account balance. But these days, it’s finally starting to live up to its name. Virtually every large bank and many regional banks and credit unions have rolled out applications that allow their clients to use a mobile phone for fund transfers, bill payments and even depositing checks.
But with the increasing popularity and convenience of mobile-banking apps comes a big caveat: the risk of downloading and installing a fraudulent application that could draw your account information and, potentially, any other data stored on your mobile device. In other words, the next generation of “phishing” scams is about to explode – and it has the potential to do much more damage than earlier versions.
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January 29
2010
Transaction News - Factors Influencing the Industry During 2010
Featured in January 2010 Transaction News
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January 21
2010
Avoiding the 'Seven Deadly Sins' of Online Fraud
Ori Eisen, Chief Innovation Officer at 41st Parameter, highlights seven 'online sins' which, if addressed, can deter the use of stolen credit cards and reduce identity theft and fraud. By addressing these points, companies transacting online can reduce the threat of fraudulent purchases or unauthorised account access and ensure a safer experience for their legitimate customers.
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January 20
2010
Fraudsters Take Aim At Mobile Banking - New Phishing Schemes Target Mobile Customers with Bogus Apps
Symptomatic of a new fraud trend targeting mobile banking, at least two banking institutions have posted messages on their websites, alerting members to be wary of a bogus application distributed on mobile phone platforms.
Bayport Credit Union of Newport News, VA, and First Technology Credit Union of Portland, OR, warned members about a mobile banking application that had appeared on the Android Marketplace, part of the Android mobile phone platform. Android is a subsidiary of Google. More than 50 fraudulent banking apps began appearing in the Android Marketplace in mid-December, industry experts say. The apps didn't contain malware, but instead attempted to get users to enter their passwords, account numbers or other personal information.
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December 14
2009
10 Faces of Fraud for 2010 - Ghosts of Crimes Past and Present Will Haunt the Future
"The more things change, the more things stay the same." This old saying holds true when it comes to the different types of fraud hitting financial institutions.
In 2009, institutions were hit from every angle with fraud schemes -- some were old, and some were new variations. Here is a roundup of the 10 predominant types of fraud that institutions and their customers can expect to see in 2010, according to industry experts.
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November 25
2009
How the Rise of Smart Phones Could Unleash a Wave of Fraud
November 25, 2009 The increasing popularity of smart phones, which has given a big lift this year to consumer adoption of mobile banking and payments, has brought with it an ominous new threat of fraud. Last week, the Dutch security firm XS4All reported on a worm that infects iPhones and allows hackers to steal information from them. The worm, or malware, attacks so-called jailbroken phones, or iPhones that users have altered with software that lets the phone run programs not approved or supported by Apple Inc., the popular device’s maker.
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November 18
2009
Scottsdale, Ariz.-November 18, 2009-41st Parameter Inc., the leading provider of fraud detection and prevention technology, forecasts increased mobile channel cybercrime and decreased effectiveness of traditional anti-fraud tactics, attributed to the rapid adoption of new mobile handsets and multiple operating systems. According to a November 2009 consumer study of U.S. mobile phone users, 18.9 percent of mobile consumers now use a smartphone, and an additional 49.2 percent plan to purchase an advanced mobile device within the next two years. Last week, Gartner reported smartphone sales in 3Q09 grew 12.8% year over year, reaching 41.1 million units.
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November 11
2009
Bank robbers prefer laptops to guns
The Justice Department has indicted eight computer hackers who prosecutors say pulled off a global ATM heist last year. Jeremy Hobson explores the modern age of bank robbery and the more commonplace presence of digital financial fraud.
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November 4
2009
41st Parameter Presenting at Private Label Round Table Conference on Combating Fraud
Scottsdale, Ariz. - November 4, 2009 - 41st Parameter® today announced Eli Katz, Senior Vice President of Enterprise Strategies for Financial Services will present to an exclusive audience of Chief Risk Officers, senior credit and fraud risk managers for store cards at this week's private label round table conference. This by-invitation-only event comprises the top issuers in the US private label credit card industry representing 90% of the $110 Billion store card (private label) industry.
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October 27
2009
Scottsdale, Ariz.—October 27, 2009—41st Parameter has been invited to present during the upcoming China Airline Booking & Payment Summit, October 29-30 in Shanghai, China. Summit organizers called upon 41st Parameter to host and participate in two separate presentations during the conference; sharing knowledge derived from the company’s proven online fraud detection and prevention solutions for the Airline Industry.
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October 23
2009
The risks associated with mobile payments and their anti-fraud solutions
Juniper Research recently forecast that NFC (Near Field Communication) Payment transactions will significantly grow from values of $8bn in 2009 to $30bn within three years. Such offerings are set to reach the UK commercial market later this year.
The Government recently announced new safety guidelines, which include disabling the payment functionality of a mobile as soon as a fraudulent payment occurs and verifying any transaction above the maximum contactless payment threshold – currently £10 – by additional security measures such as a PIN code. If a large number of smaller payments are noted in quick succession, these will also require verification in a bid to prevent criminals abusing contactless mobile payments. But are they really going to stop mobile payment fraud?
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October 1
2009
Frenetically Fighting Fraud - From STORES Magazine
E-commerce retailers are constantly at risk from fraudsters, especially those sophisticated enough to assume multiple false identities. To protect themselves, many e-tailers use fraud prevention tools to alert them to potential risks. To more fully evaluate those risks often requires long hours by investigators, who manually review customer orders that have been flagged as risky.
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August 19
2009
41st Parameter® Expands Executive Team Adding William Snow as Vice President of Engineering
Scottsdale, Ariz.—August 19, 2009—41st Parameter Inc., the leading provider of fraud detection and prevention technology, today announced William Snow has joined the company as vice president of engineering. Mr. Snow brings more than 23 years experience in the software and information technology industries. He comes with expertise from both large enterprise organizations and several start-up companies. Mr. Snow will be responsible for the company’s product and quality assurance engineering, customer support and advocacy, and professional services.
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August 10
2009
2Checkout.com Extends Commitment to 41st Parameter’s Internet Fraud Detection Solutions
Scottsdale, Ariz. – August 10, 2009 – 41st Parameter® Inc., the leading provider of fraud detection and prevention technology, today announced a three-year
extension of services from 2Checkout.com (2CO), provider of turnkey e-commerce solutions and payment processing for approximately 40,000 businesses around
the world. 2Checkout will continue using FraudNet, the leading dedicated fraud prevention solution for the e-commerce industry, through 2012 to help its investigative team identify legitimate versus fraudulent transactions.
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August 5
2009
Scottsdale, Ariz. – Aug 5, 2009—Fraud detection tools and payment fraud losses are top of mind according to a recent webinar and poll of airline fraud
investigators. The survey results, released today by 41st Parameter Inc, a leading provider of fraud detection and prevention systems to the airline
Industry, report insufficient rules and defense mechanisms in place at most airlines. The results forecast the continued emergence of new reservation booking vehicles and a shift in the payment landscape.
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July 16
2009
E-commerce Fraud: The Latest Criminal Schemes
July 16, 2009 — CSO —
E-commerce fraud costs retailers approximately $4 billion each year, according to the most recent results of an annual survey conducted by Cybersource, a provider of electronic payment and risk management services. Sebbe Jones, manager of fraud and disputes at 2Checkout, is in the business of keeping e-commerce fraud at bay.
2Checkout, an international online payment service, is a reseller for small-and-medium-sized businesses. The company has more than 20,000 active suppliers and handles more than 200,000 transactions a month. Merchants come to 2Checkout to handle the financial life of their transaction. Naturally, criminals hoping to defraud people out of their money and credit card information also attempt to use the system for financial gain. Jones outlines how 2Checkout monitors fraudulent activity, and details some of the latest scams he sees on the job.
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July 1
2009
41st Parameter Names J. Peter Selda as Chief Executive Officer
Scottsdale, Ariz.- July 1, 2009 - 41st Parameter Inc., the leading provider of fraud detection and prevention technology, today announced that J. Peter Selda will join the company as President, Chief Executive Officer and member of the Board of Directors. Selda brings more than 35 years of executive management, sales, and marketing experience to 41st Parameter, with significant operational success specifically in the IT security sector. Selda held the position of president and CEO of WholeSecurity, Inc., where he led the company from incubator pre-product stage through a successful commercial launch and subsequent strategic acquisition of its acclaimed behavioral-based anti-phishing and malware detection solutions by Symantec in 2005.
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May 26
2009
Fraud Update: The 13 Hottest Schemes You Need to Prevent
Linda McGlasson, Managing Editor
May 26, 2009
The fraud fight is getting nastier by the minute, say experts familiar with the new schemes - and some old ones with new wrinkles -- being perpetrated by criminals against financial institutions and their customers. Here are 13 of the most prevalent ruses.
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May 1
2009
Wire Transfer is one of the backbones of money movement, responsible for handling transactions of hundreds of thousands and even millions of dollars. It is no wonder then, financial institutions are dedicating significant resources to protecting the integrity of the channel and preventing fraud.
The combination of high transaction amounts, global transfer destinations, and fast payment has created a challenging, and often a stressful, fraud-detection environment. To improve its fraud detection processes, a leading global bank turned to 41st Parameter to further reduce losses while improving investigator productivity.
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April 30
2009
Scottsdale, Ariz. - April 30, 2009 - 41st Parameter Inc., a leading provider of internet fraud detection and prevention systems to the Airlines Industry, announced today its FraudNet solution is significantly reducing fraud losses for airlines across multiple card not present channels; allowing for legitimate sale of seat capacity and revenue retention. According to the recent Airline Online Fraud Survey, curtailing fraud loss and profit protection are key initiatives for airlines during tough economic times.
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March 26
2009
US Airways Selects 41st Parameter's FraudNet
Scottsdale, Ariz. - March 26, 2009 - 41st Parameter® Inc., the leading provider of internet fraud intervention and detection services and technology, today announced U.S. Airways (NYSE: LCC) selected FraudNet to detect and prevent Card Not Present (CNP) fraud across multiple reservation channels including online, kiosk and phone. The airline conducted an arduous selection process and chose FraudNet, the leading dedicated fraud solution for the travel industry, to help identify legitimate versus suspect transactions on a global scale.
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February 24
2009
Gartner's Magic Quadrant for Web Fraud Detection placed 41st Parameter in the visionaries quadrant based on the company's completeness of vision and ability to execute. Criteria must be met for inclusion in Gartner's Magic Quadrant. Magic Quadrants use standard criteria in two categories: completeness of vision and ability to execute.
Complimentary report available at www.the41st.com/Gartner.
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February 6
2009
41st Parameter Shows Record Growth During 2008
Scottsdale, Ariz. - February 6, 2009 - 41st Parameter Inc., the leading provider of internet fraud intervention and detection services and technology, today announced record sales and growth for 2008. Many companies recognized online fraud as a serious potential threat to their customers and their bottom line. Even with the uncertain economic times, companies turned to 41st Parameter for industry best anti-fraud solutions.
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February 2
2009
Writing the bad guys a blank check. Fraud is spiking and hard working families are the frustrated victims. FOX 10's Keith Yaskin tells us why the common crime of check fraud is a sign of the times
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December 10
2008
10 Faces of Fraud: The Greatest Risks to Banks in 2009
Traditionally, after a successful phishing attack, the criminal would extract the needed information and go onto the online account and remove the victim's bank funds. This has changed for some of the more sophisticated criminals in the last year, says Ori Eisen, Founder and CIO of 41st Parameter. "Instead of looting the victim's account, they don't set up fake bill pay or take money directly from the account. Instead they go to the check image page, where they take a copy of the victim's check.
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January 12
2009
Atlanta, GA - 01/12/2009 - Atlanta-based consulting firm Transform announced Monday that it has been awarded a contract to lead the implementation of 41st Parameter's FraudNet software at US Airways (LCC). The initiative will provide an integrated solution aimed at minimizing credit card fraud - particularly through web site and call center distribution channels.
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November 25
2008
Scottsdale, Ariz. – November 25, 2008 – 41st Parameter® Inc., the leading provider of Internet fraud intervention and detection services and technology, today announced survey results from a recent event sponsored by the Merchant Risk Council (MRC). Findings indicate fraud and risk management experts from leading e-commerce companies believe current economic conditions will yield increased online fraud activity this holiday season. When asked about their top fraud fighting challenges, 67% identified fraud rings and botnets as key concerns.
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November 17
2008
41st Parameter® Inc., the leading provider of Internet fraud intervention and detection services and technology, today announced Mercadotecnia Ideas y Tecnología (MITec), Mexico’s premier airline and travel industry payment processor, has expanded its business to offer dedicated fraud prevention screening services to its clients. Through the deployment of 41st Parameter’s comprehensive fraud detection and transaction monitoring application, FraudNet, MITec has built a Payment Solutions Division which includes a complete Fraud Prevention Management offering.
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November 11
2008
41st Parameter Teams With Ethoca To Enhance Transaction Risk Assessment and Protect E-commerce
41st Parameter® Inc., the leading provider of internet fraud intervention and detection services and technology, today announced a strategic partnership with Ethoca™, the leader in collaborative fraud management. With this agreement, joint customers gain additional insight to aid in assessing card not present transaction risk.
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October 27
2008
Payoneer Secures Its International Payments Platform with 41st Parameter
Payoneer, Inc., a leader in payment solutions that help companies pay their people worldwide using reloadable Prepaid MasterCard cards, announced today that it has integrated 41st Parameter's PCPrint as a key component of Payoneer's international payment services.
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September 16
2008
FraudNet 3.0 Delivers Enhanced Fraud Fighting Features
September 16, 2008 — 41st Parameter's® Latest Release Allows Companies to Improve Fraud Ring Detection and Increase Investigators Productivity with Link Analysis, Dynamic Queues and Bulk Actioning
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August 18
2008
LifeLock Appoints 41st Parameter Founder Ori Eisen to Fraud Advisory Board
August 18, 2008 - Designed to provide LifeLock(R) with new insight and unrivaled expertise, LifeLock, the industry leader in identity theft protection, has developed a comprehensive group of fraud and privacy experts. The LifeLock Fraud Advisory Board will not only provide insight on identity theft and fraud trends but also new consumer threats and emerging industry solutions.
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September 8
2008
41st Parameter and Leading Airlines Battle on Card Not Present Fraud
September 8, 2008 - Fraud Prevention Expert, David Britton, to Discuss Fraud Prevention within the Travel Industries at upcoming ATA Summit
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July 24
2008
41st Parameter Selected by AlwaysOn as an AO Global 250 Winner
41st Parameter Inc. (www.the41st.com), a leading provider of Internet Fraud Intervention Services and Technology for e-commerce and financial services, today announced that it has been chosen by AlwaysOn as one of the AO Global 250 Winners. Inclusion in the AO Global 250 signifies major developments in the creation of new business opportunities in the global technology industries. 41st Parameter was specially selected by the AlwaysOn editorial team and other industry experts spanning the globe, based on a set of five criteria: innovation, market potential, commercialization, stakeholder value, and media buzz.
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July 15
2008
New technology detects fraud without impacting the customer
Will help identify genuine cases to law enforcement for fraud ring investigation
Agreement strengthens 41st Parameter's drive into travel industry
Scottsdale, Ariz. - July 15, 2008 - 41st Parameter Inc. (www.the41.com), a leading provider of Internet Fraud Intervention Services and Technology for e-commerce and financial services, today announced that it has been selected by Continental Airlines Inc. (NYSE: CAL) to help detect and prevent Card-Not-Present (CNP) fraud in its online sales channels. The airline will employ 41st Parameter's FraudNet to help it identify legitimate versus suspect website transactions on a global basis, as well as to prevent fraudulent account access, enabling the airline to protect sensitive customer data. This is the latest in a progression of orders that has established 41st Parameter as a key supplier of advanced anti-fraud solutions to the global travel industry.
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May 20
2008
MarketTools selects 41st Parameter's PCPrint™ to provide component of TrueSample
Combination provides market research highest validation available
Scottsdale, Ariz. - May 20, 2008 - 41st Parameter Inc. (www.the41st.com), the leading provider of Internet Fraud Intervention Services and Technology for e-commerce and financial services, today announced the selection of its PCPrint Device Identification solution by MarketTools, the leading innovator of online market research and the technology and solutions leader for Customer Insight Management. MarketTools plans to integrate 41st Parameter's PCPrint with its recently launched TrueSample solution to offer the highest level of data validation available from any online market research organization. MarketTools will leverage the same proprietary technology and expertise that is used to reduce online fraud at the majority of US banks.
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May 1
2008
Sentinal and 41st Parameter Form Strategic Partnership
(May 1, 2008 - MIAMI) - Sentinel of Miami, Florida and 41st Parameter of Scottsdale, Arizona, global leaders in providing business-ready, Internet safety, security and consumer protection solutions, today announced a definitive strategic partnership focused on delivering the world's most advanced sexual predator identification and detection solution. As a part of the agreement, the privately held Sentinel will offer 41st Parameter's unparalleled device identification technologies. The companies will also work to build integrated solutions that will allow businesses to capitalize on Sentinel's broad portfolio of Internet safety solutions.
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February 28
2008
Merchant e-Solutions Secures The 41st Parameter to Thwart Online Fraud
The 41st Parameter, the leading provider of Internet Fraud Management Solutions, announced today that Merchant e-Solutions has selected its FraudNet enterprise solution to support business growth and respond to customer demand for a fraud prevention offering
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December 11
2007
Record Online Holiday Sales Equals Record Internet Fraud
Scottsdale, Ariz. - December 7, 2007 - With initial figures still rolling in and the peak online shopping days still ahead, 2007 is poised to set more records. Current estimates indicate that online sales will top $30 billion* for the season, and fraud rates will increase by 20 percent.
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November 29
2007
FraudNet Platform Proven Effective at Several of the World's Top Tier Banks
SCOTTSDALE, Ariz. - November 29, 2007 - The 41st Parameter today confirmed its industry leading fraud prevention solution, FraudNet, has proven effective in addressing recent ID Theft regulatory guidance (http://www.occ.gov/ftp/release/2007-122.htm). This guidance directs financial service providers to develop a program for detecting, preventing, and mitigating identity theft. In summary, a Financial Services organization must:
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