First Atlantic Commerce has formed an agreement with HNC Software, Inc., that protects e-commerce merchants from the risks of card-not-present transactions on the Web. Under the agreement, First Atlantic Commerce will offer its customers HNC’s eFalcon Internet bank card fraud detection system.

“Internet merchants are concerned about fraud perpetrated online, since they are responsible for losses incurred through card-not-present transactions,” says Walter Lee, vice president of Internet risk products for HNC Software. “With First Atlantic Commerce’s high level of security in its services, plus the advanced online fraud detection capabilities of the eFalcon system, merchants are well protected from potential bank card fraud.”

eFalcon is a fraud detection and risk management service available to online merchants. The solution uses neural networks, scores, and rules to distinguish between legitimate shoppers and fraudulent purchasers. It also allows merchants to set policies for accepting and rejecting transactions. eFalcon is based on HNC’s Falcon bank card fraud detection technology, developed over a 10-year period and used to protect more than 300 million payment card accounts worldwide.

Andrea Wilson, CEO of First Atlantic Commerce, said, “The key to success in the new Internet economy is to establish alliances with industry leaders, to leverage existing expertise to provide the best available solution. eFalcon is recognized as the leading Internet credit fraud protection solution on the market.”

Headquartered in San Diego, California, HNC Software, Inc., provides predictive software solutions for the financial, telecommunications, insurance and e-commerce industries. HNC’s suite of predictive software solutions provide real-time insight into customer relationships based on transaction-level data, helping companies manage their relationships with individual customers. For more information visit HNC’s Web site at www.hnc.com or call (858) 799-3881.

Bermuda-based First Atlantic Commerce Ltd., develops and provides real-time offshore e-commerce services. First Atlantic Commerce provides global payment solutions such as multi-currency and multiple jurisdiction settlements to enable merchants to access markets around the world. For more information on First Atlantic Commerce visit them at www.firstatlanticcommerce.com or e-mail aloxton@fac.bm.

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