January 30, 2001, 5:16 PM

New web site helps e-retailers combat online fraud

The Worldwide E-Commerce Fraud Prevention Network announced the launch of its fraud prevention web site today. Located at www.merchantfraudsquad.com, the site provides expert advice about how to combat online fraud, a growing merchant concern. Internet fraud involves the unauthorized use of credit card numbers and other payment vehicles to purchase goods and services. The site provides advice and information intended to keep stolen credit card numbers out of circulation and prevent their use on merchants' sites. Sample articles include:
* Five essential tools for preventing the use of stolen credit cards online
* Tips on secure web hosting
* How to effectively report online crime
* Future use of e-signatures for fraud prevention
* Consumer tips for shopping safely online, which merchants can place on their Web sites
"Combating online fraud represents a huge challenge since merchants can be vulnerable to a wide range of criminal tactics, even if their own web sites are secure. The network seeks to identify these vulnerabilities and provide smart solutions for fighting back," said Jennifer Bennett, vice president for customer service strategy for American Express Co. Inc. and network co-chair. Merchantfraudsquad.com is the first initiative of The Worldwide E-Commerce Fraud Prevention Network, a not-for-profit organization formed last fall by American Express and its coalition partners:Amazon.com, buy.com, ClearCommerce, Expedia.com, First Data Corp. and Starwood Hotels & Resorts Worldwide
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