Net Fraud Authority Opens

The National Fraud Center (NFC) has formally unveiled a new subsidiary that said will make the Internet a safer place to conduct business.

The Internet Fraud Authority (IFA), a not-for-profit organization, aims to tackle an online environment that is fast becoming synonymous with scams and other scourges of modern society.

Plans call for the new NFC subsidiary to provide organizations doing business on the Internet with strategies, practices and tools designed to help evaluate the potential risk of fraud in online transactions and develop fraud prevention strategies.

Dave Gilmore, an IT industry veteran, who has become the chief operating officer of the IFA, said that the creation of the NFC subsidiary makes sense for the business community.

"It means increased business opportunities because the potential exposure to fraud is greatly reduced," he said, adding that, for consumers, it means greater privacy and more secure transactions.

"For everyone, it means that the Internet becomes a safer, more trusted environment to conduct business," he said.

Citing a recent report from Forrester Research, Gilmore said that the fear of using credit cards on the Internet is still the largest obstacle to e-commerce.

"Due to the explosive growth of e-commerce, it's only logical that fraudulent activity on the Internet will experience similar growth and today's sophisticated consumer has a right to be concerned about issues such as security, fraud and privacy while online," he said.

As well as offering guidance to businesses and consumers, the IFA says it also will analyze online trust transaction processes and design business strategies to manage integrity risks.

Gilmore said that the firm also will research fraud prevention and risk management practices of client organizations and fulfillment vendors.

In addition, the agency will develop strategic alliances with industry leaders. These, Gilmore said, will allow the IFA to develop and implement effective and practical fraud prevention strategies.

The NFC's Web site is at http://www.nationalfraud.com .

Written By Steve Gold - 16-12-99