You think PPC fraud is bad at Google or Yahoo? Wait until you try out the third tier programs. A thread at Search Engine Watch Forums named Findwhat.com fraud clicks issue describes some of these company's including Findwhat and their inability to track and prevent click fraud at the level one is accustomed to with Google and Yahoo.
Some members say they realized click fraud of up to 100% of clicks! 100%! I am not sure if that is even possible, but that is what was reported at the thread.
Forum discussion at Search Engine Watch Forums.