Fraudbuster, an internet fraud screening application, has been launched by IT company TrustMarque.
The company claims the system will reduce fraud risk on credit card purchases and e-commerce from 8 per cent to 1 per cent.
Every credit card transaction is validated by a financial institution and further analysed by Fraudbuster. Once an order has been validated by both systems an order is cleared for delivery.
TrustMarque chief executive officer John Williams says: “This fraud screening technology should be integral to any e-commerce strategy. If not, e-merchants are leaving the door wide open for internet fraudsters.”