“All Bread Is Not Baked In One Oven” – WhyLabs Introduces
New Approach to Fraud Detection
Released on = November 14, 2005, 3:33 am
Press Release Author = Why Laboratories Corporation
Industry = Internet & Online
Press Release Summary = It is generally accepted that applying the only fraud
detection approach to all types of online business is ineffective. Because of the
great variety of businesses and e-commerce tools there are many various ways of
fraudulent attacks developed specifically to hit every kind of e-business. Thus,
there must be unique fraud detection pattern customized to particular business. Why
Laboratories Corporation takes steps to solve the problem.
Press Release Body = Why Laboratories Corporation (WhyLabs.com) is a scientific
laboratory studying online fraud-prevention problems and providing services to
online businesses all over the world. The company specializes in risk management
solutions and checks each particular transaction for fraud possibility.
WhyLabs` latest study was targeted at the effectiveness of using anti-fraud tools to
protect online businesses and decrease fraud losses. It was found out that
anti-fraud tools now bring only the very small share of effect that they can
potentially bring. The reason is ineffective application of fraud-detection
mechanisms. As long as there are a great many ways of fraudulent attacks, there must
be a great many anti fraud approaches as well. The study showed that only the
detection system specially tuned up for a specific kind of business can protect it
with a proper effect. However, there is no anti-fraud provider offering such
particularly customized fraud-prevention system today.
According to the results of the study Why Laboratories Corp. introduces its new
approach to risk management solution. Formerly operating as many other anti-fraud
systems which offer a general solution for all clients with only little
fluctuations, WhyLabs changes its conception and introduces the Tailored Scoring
System. The system makes it possible to create a unique fraud-detection pattern for
every client according to their business profile.
All retail products which are offered all over the Internet were specified by
WhyLabs researchers into three groups: downloadable products (software, member`s
zones, online services, etc.); physically shipped products; gambling. A number of
anti-fraud scoring patterns were created according to different features of each
group. After a client chooses their group and fills in a form concerning their
business profile and specificity, expressly designed software chooses the needed
combination of modules and a scoring pattern to match this specific business. Thus
every e-merchant has an opportunity to get a unique risk management solution.
WhyLabs reports that prices have not changed with the introduction of the Tailored
Scoring System. Client`s unique pattern is created at no cost, and fee is still $
0,05 per transaction. In Why Laboratories Corp. they believe that the introduced
risk management approach proves to be much more effective than all previous ones in
fighting fraud all over the Web.
Web Site = http://www.whylabs.com
Contact Details = http://www.whylabs.com
whylabs@whylabs.com
568 Ninth Street South, Suite 202,
Naples Fl 34102US
Tel 1-888-271-7502
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