Days numbered for fraudsters as the 3rd Man gets Early Warning Thursday 8 November 2007 PDF Print βEcommerce figures suggest that 95% of all online fraud detected involves more than one retailer. It is clear from this figure that the way forward for Internet traders is to share their dataβ β Paul Simms, CEO, the 3rd Man. The 3rd Man Group, which specialises in protecting retailers and consumers from card not present (CNP) fraud, has acquired online credit card fraud company, Early Warning UK. By adding Early Warningβs unique CardAware database to the 3rd Manβs SuperSearch system, which enables retailers to share information on high risk transactions, the move will provide on-line traders with the UKβs single most powerful fraud protection service. Established by Internet fraud victim Andrew Goodwill in 2002, Early Warning UK provides fraud-busting services to a wide cross section of online retailers, enabling them to post details of actual or attempted internet crime, as well as searching to see if others have had similar experiences. Fraudsters are subsequently exposed through a network of data sharing. The 3rd Man provides fraud screening services to over 18,000 retailers saving them collectively in excess of Β£10 million per month. The 3rd Man also operates SuperSearch β a national Card Not Present Fraud file. SuperSearch saves retailers millions of pounds by enabling them to share and monitor information on high risk transactions that are deemed to be fraudulent. Corporate SuperSearch users include JJB Sports, Woolworths, Ticketmaster, Halfords, Argos and many other leading businesses. Commenting, Andrew Goodwill, Managing Director of Early Warning, said: βOur CardAware service has already saved Internet merchants millions of pounds in avoided fraud and chargebacks. Data-sharing is a proven method of fraud prevention, so now, by pooling resources with The 3rd Man, we can together be even more effective in protecting UK businesses.β Paul Simms, Chief Executive of the 3rd Man, said: βBy bringing Early Warning under the 3rd Man umbrella, our aim is to develop a massive and dynamic system of information sharing which will be used by retailers to protect themselves and their genuine customers. The ability now to share fraud data with Early Warning as well as learning from their experiences is a major boost in the fight against card crime.β SuperSearch is based on the 3rd Manβs sophisticated and highly secure fraud screening services which are used by retailers throughout the UK, including JJB Sports and Ticketmaster. SuperSearch works by providing retailers and banks in any location with a reciprocal connection to these fraud screening services. When a transaction is rejected or when a chargeback is received, this information is made available anonymously to all users of SuperSearch. Retailers and banks may then take action to prevent further incidences of fraud, not just in the UK but worldwide. Ends About The 3rd Man - www.the3rdman.co.uk The 3rd Man provides card not present fraud screening, card fraud analysis and consultancy services to some of the UKβs leading retailers, including JJB Sports, Halfords and Ticketmaster. The company reliably detects in excess of 95% of fraudulent attempts including organised and casual fraud. The 3rd Man also provides its GateKeeper secure online data reporting and analysis tool that enables clients to search for and display transactional information instantly, performing complex analysis to identify fraud rings quickly. About Early Warning β www.early-warning.org During 2002 Andrew Goodwill, MD of Early Warning (UK) Ltd, established a small online computer store called ukcomputerparts.com. Despite the siteβs limited length of operation and public exposure, Andrew became increasingly dismayed at the sheer number of credit card fraud attempts on the site, as well as the absence of any real system to help prevent them. In September 2002 Andrew's response to the problem was to launch the original Early Warning Website. The idea was simple - Andrew put his known fraud data (only a few records at that time) into an online database and then made the system available to other companies trading online so they could check their own sales order data against it. Andrew also encouraged all of the users of the system to enter their own fraud data. The Early Warning Fraud Database was born. The system was originally offered to retailers free-of-charge, with a yearly subscription fee being launched in February 2003. The database now called CardAware is growing daily and contains 10s of thousands of records. Press contact: Glen Goldsmith 2thefore Tel: 01483 811234 / 07812 766338 Email: firstname.lastname@example.org Paul Simms CEO The 3rd Man Tel: 07785 517776 Email: email@example.com This press release was distributed by ResponseSource Press Release Wire on behalf of 2thefore in the following categories: Consumer Technology, Business & Finance, Media & Marketing, Retail & Fashion, Public Sector, Third Sector & Legal, Computing & Telecoms, for more information visit http://pressreleasewire.responsesource.com/about.