eBay-owned PayPal has announced the acquisition of privately-held online fraud detection firm Fraud Sciences.
Fraud Sciences, a private company, has developed technology designed to differentiate between real and fraudulent transactions. That technology will be folded into PayPal's anti-fraud systems, which will be "significantly" improved this year, eBay said. Fraud Sciences' chief operating officer, Yossi Barak, and founders Shvat Shaked and Saar Wilf will move to PayPal's technology and fraud management teams.
The online payments firm is bolstering its defenses against the rising threat of phishing scams. PayPal will shell out $169 million for the acquisition.
eBay's PayPal to buy Fraud Sciences (News.com)
PayPal Buys Fraud Sciences for $169M (PC World)
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