Microsoft's Expedia Hit by Web Fraud

By Sushuma on 2000-03-01 10:21:35

(Reuters)-Expedia Inc., the online travel affiliate of Microsoft Corp., said on Wednesday it will record a fiscal third quarter charge of $4 million to $6 million to cover the cost of fraudulent transactions on its Web site.?The Bellevue, Wash.-based company said stolen credit cards were used to book travel reservations through the site.?They said the cards were not stolen from the site and its customers were not affected.?"The security of the Expedia.com site and its customer information has not been compromised," the company said in a statement.?The Expedia reserve represents the company's estimate of unreserved fraudulent activity to date and is less than one half of 1 percent of travel tickets sold, the company said.?Gross bookings to date on the Expedia.com Web site total more than $1 billion.?

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