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Scientific Anti-Fraud Laboratory Becomes Available Online - The Scientific Anti-fraud Laboratory, which carries out highly advanced online fraud monitoring and used to be closed to the public, is now available online
Scientific Anti-Fraud Laboratory Becomes Available Online

 

NewswireToday - /newswire/ - Naples, FL, United States, 2005/08/01 - The Scientific Anti-fraud Laboratory, which carries out highly advanced online fraud monitoring and used to be closed to the public, is now available online.

   
 
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Renamed WhyLabs for public use, the anti-fraud tools give merchants and investigators critical information and results to detect and prevent fraud.

Doing business online today is risky for the merchant and the client, as fraudsters increase and many are developing state-of-the-art techniques for fraud assault. WhyLabs` statistics shows that the average loss to fraud victims has risen by almost 70% in 2004 vs. 2003.

Why Laboratories Corporation specializes in studies of online fraud activity and developing technologies to help business avoid becoming a fraud victim. WhyLabs data and results have been securely harnessed into the WhyLabs database and made available at whylabs.com. They go online to interact directly with e-businesses and provide professional help in fighting off fraud attempts.

“To be protected, businesses must stick together in their fight to eliminate fraud. Even the strongest anti-fraud institutions are too weak to overcome the problem solely, therefore all law-abiding online actors must cooperate. We call on all e-businesses to assist our research work. We encourage them to notify us about any fraud attempt noticed, complete our questionnaires and use our proven fraud-prevention tools. It will help us to investigate and hinder illegal online activity,” WhyLabs Chief Manager Dennis Drausett says.

WhyLabs will continue to carry out its scientific anti-fraud research. However, now all its reports, statistical information and investigation results will be open to the public.

“We detect credit card fraud for businesses. It’s that simple for merchants,” Drausett said. “In the laboratory, we developed a system which verifies a transaction by passing its information through a number of filters. The process takes 5 seconds or less. Then we make a scoring of the transaction`s fraud possibility and send it back to merchant. Our reports are based on years of research and a database of real world transaction data.”

 
 
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Written by / Agency / Source: Why Laboratories Corporation

 
 

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Scientific Anti-Fraud Laboratory Becomes Available Online

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Publisher Contact: Dennis Drausset - WhyLabs.com 
501-646-4994 pr[.]whylabs.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Why Laboratories Corporation securities in any jurisdiction including any other companies listed or named in this release.

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