eBay announced on Monday, that its PayPal online payment service unit will acquire Fraud Services, a privately held Israeli company, for $169 million.

Based in Tel Aviv, Fraud Sciences is a venture-capital-backed startup formed in April 2006, specializing in online risk assessment. Fraud Sciences’ technology is designed to ferret out fraudulent credit card purchases by verifying that the person making the transaction is in fact the cardholder.

Posted: 01|29|08 at 9:27 am. Filed under: Auction News.