The Interactive Advertising Bureau has released the third quarter numbers for Internet advertising revenues. The total numbers are $7.88 billion for Q3 2011. This is up 22% from Q3 2010. This is also up 2.7% increase from Q2 2011. This is the 8th consecutive quarter of year-over-year growth. The growth is due to an increase of brand marketing spending. [TechCrunch]

In December, Fraudwall Technologies Inc. recruited Ken Miller as CEO. Miller was the first employee at PayPal to manage fraud. At the time that Miller was leaving PayPal, he was the VP of risk management. Miller is planning on finding ways to prevent fraudulent clickers from making money illegitimately.

Google Inc. and Yahoo! Inc. are confident in their abilities to detect click fraud and do not charge advertisers when fraud is detected. However, advertisers sometimes believe that they want another opinion. In the last year, Google and Yahoo joined the Interactive Advertising Bureau, an agency that has a click fraud initiative.

Fraudwall collects data from ad sellers and the advertisers’ websites. This service gave enough of a reason for Ron Conway and Jim Pitkow to invest millions in the company along with several other angel investors. Jim Pitkow was once the chairman of Outride, which had sold to Google. Ron Conway had invested in Google early on.