Originally published December 14 2005
Yahoo Japan to use new technology to detect online fraud
by Mike Adams, the Health Ranger, NaturalNews Editor
The system uses a database of internet fraud cases to detect false product offers and inappropriate transactions on auction sites. Yahoo Japan can bar the seller from using the site if suspicious sales are detected.
Advertisement 3 Yahoo Latest News about Yahoo Japan Corp. next month will start using a new system to detect fraudulent product offers on Internet auction sites.
Using a database Latest News about database of past cases of Internet fraud Latest News about Internet fraud, the system detects inappropriate transactions in the early stages before the sales can go through, the Asahi Shimbun reported Tuesday.
If Yahoo Japan determines the seller is trying to bilk bidders, it will take steps including barring the seller from using the site.
For example, if a seller with no record of submitting merchandise to the auction site suddenly offers a large number of laptopRelevant Products/Services from HP computers, the system will show the site's operators that the offer has a high probability of being fraudulent.
The company already has a patrolling team of 150 people who check the auction site on a 24-hour basis to delete what it considers suspicious bids and offers.
Yahoo Japan reportedly invested $840,000 to adopt the new system developed by Finance Engineering Service in Tokyo.
Yahoo Japan's auction site had 4.82 million users by the end of 2004, with an annual total of $4.8 million changing hands.
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