They say it's an ill wind blows no good. Such may be the case with credit card fraud, with banks collecting the windfall. Many large banks are trying to provide the wherewithal for their merchant customers to operate online as the proverbial one-stop shop for e-tailers. Such banks offer services that range from Web site design and hosting to acquiring online credit card transactions to providing cyber-merchants with checking accounts.
With the intense publicity given Internet fraud lately, the time seems ripe for banks to add fraud detection to their range of e-merchant services. Indeed, anti-fraud technology vendors report an increase in banks' interest in reselling that fraud software or referring their merchant customers to the vendor in question.