Thursday, August 6, 2009

41st Parameter Aims At Airlines

Scottsdale, Arizona-based 41st Parameter, a venture backed developer of fraud detection tools, appears to be aiming at the airline industry, saying this week that it has run a survey which finds fraud detection tools and payment fraud losses are an issue for the airline industry. The firm said its survey found that online credit card fraud was a billion dollar problem for the industry. 41st Parameter has previously announced customers in the industry, including US Airways and Continental. 41st Parameter is backed by JAFCO Ventures, Kleiner Perkins Caulfield & Byers and Northwest Venture Partners