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E-Commerce Group Forms to Combat Fraud

A group of e-commerce companies is taking steps to fight e-commerce fraud.

HNC Software Inc. recently asked five companies to help it battle resistance from merchants, according to The Wall Street Journal.

HNC Software is forming a consortium of electronic commerce companies to use credit card collection data to combat fraud.

The company has agreements with a number of banks and credit card issuers who provide it with information on fraudulent activity. That information, along with stats provided by other members will be placed in a large database that will help stem fraud.

Among the companies who have joined with HNC are CyberCash Inc., ShopNow Inc.,