FraudEliminator maintains a real-time threat database that tracks identifying information about every known online fraud threat. To keep the database up to date, FraudEliminator has built a network of fraud incident collection points and a team of fraud analysts. In addition, users are encouraged to report fraud incidents to our central monitoring center by clicking a "Fraud Report" button on their web browser when they suspect foul play. These fraud reports, once reviewed and verified, are in turn distributed back to defend users. Adding yet another layer of protection, FraudEliminator has also developed a proprietary set of statistical algorithms designed to recognize signs of fraud. For example, a website claiming to be CitiBank but based in Moldova would be blocked as fraud.

FraudEliminator requires a Windows-compatible PC running Windows 95, 98, Me, 2000 or XP, and Internet Explorer 5+ or FireFox 1.0 or higher. The basic version of FraudEliminator is completely without charge; FraudEliminator Pro, available for $19.99, delivers users more frequent fraud database updates and helps support the ongoing development of the product.