The launch of the latest version of ClearCommerce Engine 5.5 is also fitted with new reporting tools, which can be used in conjunction with the inbuilt FraudShield rules engine. The system is used to screen any credit card number, email address or IP address to identify repeat occurrences across a series of order transactions.
Austin, Texas-based ClearCommerce is in the process of building its business interests in Europe after raising $3m last year in a round of venture funding led by Austin Ventures, bringing the total invested in the company to nearly $60m.
The vendor is targeting the growing problem of identity theft and aggressive fraud attacks by increasingly sophisticated online criminals. Recent research indicates that identity theft scams over a one-year period resulted in fraud totaling $2.4bn.
