NEW YORK, NY -- (Marketwired) -- 08/19/14 -- Ewire -- CIO Review has chosen Fraud.net for its '100 Most Promising Technology Companies of 2014.' The annual list of companies in the 'CIO Review's 100 Most Promising Technology Companies' are selected by a panel of experts and members of CIO Review's editorial board. The Fraud.net software-as-a-service platform was selected based on its innovative approach in combating the most difficult-to-detect segments of retail fraud.
"E-commerce fraud is an increasingly serious problem, growing faster than e-commerce itself. Online retailers bear almost all of the losses, and 1 in 5 of fraud attempts is still successful despite today's fraud prevention systems and the laborious manual reviewing of orders. E-commerce companies have to take ownership and control of the problem before it gets worse," said R. Whitney Anderson, Co-Founder & CEO, Fraud.net. "Fraud.net's solutions provide online retailers with a new level of order process automation, order acceptance, and business intelligence."
Fraud.net, the leader in crowdsourced e-commerce fraud prevention, enables merchants to pool their fraudulent and suspicious order data into a real-time, searchable and sharable database. This patent-pending solution is the largest effort to combat online fraud using retailers' own collective intelligence.
About CIO Review
CIO Review constantly endeavors to identify "The Best" in a variety of areas important to tech business. Through nominations and consultations with industry leaders, CIO Review's editors choose 'the best' in different domains. The '100 Most Promising' is a listing of the 100 Most Promising Technology Companies in the U.S for 2014.