Thursday, January 31, 2008

PayPal buying Israeli online security firm Fraud Sciences

SAN FRANCISCO (AFP) - Online financial transactions firm PayPal announced on Monday that it has a 169-million-dollar deal to buy an Israeli company that specializes in uncovering fraud.

PayPal, which is owned by veteran Internet auction service eBay, expects to complete the purchase of Fraud Sciences Ltd. in 30 days.

Once acquired, the company's expertise will be used to expose scams and deceptions targeted at PayPal and eBay users, according to the companies.

"Integrating Fraud Sciences' risk tools with PayPal's sophisticated fraud management system should allow us to be even more effective in protecting eBay and PayPal's hundreds of millions of customers around the world," said PayPal president Scott Thompson.

PayPal did not disclose details of the deal but said it is valued at 169 million dollars. Read more..
Ahhh, but of course, an American company uses foreign companies to protect who?

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