eBay tackles fraud problem with VeriSign

NEWS eBay will use VeriSign to authenticate some of its high-value auctioneers amid concerns of accounts being hi-jacked. The VeriSign system will access databases of phone numbers, addresses and credit reports to provide sellers with a badge saying that their auctions are verified by VeriSign. Auctioneers will be authenticated when they sign up, and again at regular intervals using pieces of information such as the value of their mortgage payments. The system will launch on eBay's US site in June and roll out across the world later, according to reports. Online auction fraud is one of the most common complaints made to the Federal Trade Commission, with tens of thousands of instances reported each year.