Irish online computer and consumer electronics retailer commits to cross-industry community cooperating to halt growth of  Customer-Not-Present fraud.

    Ethoca, the global leader in collaborative fraud management, today announced that Elara Online, Ireland's premier online computer and electronics store, has joined the rapidly expanding global network of companies working together to combat fraud.

    "Online fraud is a growing problem, and one that threatens to hamper the growth and profitability of our business if we don't stay on top of it," said Alex Arnott, Director of Operations for Elara Online. "As an innovator in our field we are taking a leadership role to ensure this collaborative network takes root in Ireland. We know that the fraudsters have been pooling their efforts for years, and it is time business leaders around the world did the same to fight back." Arnott continued, "With our growth plans in Ireland and across the UK, we must arm ourselves with the best tools. It's also imperative that we reduce the effort we spend manually reviewing transactions. We're excited about contributing to the Ethoca community and benefiting from participating as we tackle fraud at home and abroad."

    The announcement that was made today is further evidence of a growing movement around the world by online sellers to join forces using Ethoca's Collaborative Fraud Management technology. From online charities to online retail to electronic payments to gaming, global leaders in the world's major e-commerce markets see Ethoca's service as a way to safely and securely share their payment experiences, good and bad, to make better informed decisions and enhance profitability. Ethoca's unique service allows companies to learn and benefit from the experiences of other companies - declining the "wrong" transactions reduces losses, while accepting more of the "right" ones increases revenue.

    "By connecting to our collaborative fraud management community, Elara Online is demonstrating real commitment to halting the ever increasing losses to fraud, and taking back lost revenue opportunities for themselves and for other merchants," said Andre Edelbrock, Ethoca's President and CEO. "Visionary leaders like Elara recognize that when competitors act as collaborators, everyone wins in the fight against fraud. Their contribution adds more momentum in assembling a truly global cross-industry collaborative effort."