rohit khare kharealumnicaltechedu congrats end didnt max might succumbed paypal susceptible fraud money laundering max tightened httpwwwinfoworldcomarticlesctxml020902020902ctspotlightxml secure ease byjack mccarthy august 30 2002 101 pm pt max levchins fascination encryption started teenager kiev ukraine continued immigrated united states attended university illinois urbanachampaign late 1998 two years college drew passion cofound paypal online payment system since attracted tens millions users gained reputation premier internet transaction processor online auction house ebay acquired company kings ransom bad 27yearold kid ukraine programmer since 10 years old levchin family moved chicago 1991 since pursued security mission created startup right college build secure passwords palm pilots met peter thiel two founded paypal target online payment security thiel ceo company company founded notion security value levchin says peter thiel shared vision beginning thiel concentrates company business matters whereas levchin remains focused security says key companys good fortune explain paypal security company posing transaction processor levchin says spend lot time designing security doesnt step toes convenience way around tradeoff fundamental mountain view califbased paypal allows businesses consumers email addresses send receive payments via internet accepting credit card bank account payments purchases service extends 38 countries 17 million users 3 million business accounts paypals users participants online auctions led paypal closely linked ebay leading web auction site although rivals relationship two companies resulted july 8 ebays tentative 15 billion acquisition paypal agreement subject regulatory review levchin says stay paypal merges ebay areas synergy collaboration explore although security dominant feature paypal companys ability carry open communications among millions participants fits growing web services model levchin says service links people allows send messages one another says levchin panelist infoworlds nextgeneration web services ii conference sept 20 paypal online payment system natural target fraud levchin almost singlehandedly saved company thieves bent exploiting system says avivah litan vice president analyst covering financial services stamford connbased gartner didnt max might succumbed paypal susceptible fraud money laundering max tightened litan says combat criminals levchin established igor antifraud program monitors transactions warns suspicious accounts levchin says building security antifraud systems job relishes work important paypal consumers general work makes internet shopping safe view ecommerce arrived tue 3 sep 2002 143548 0700 infoworld profile max levchin