Press Releases

August 19, 2009

iovation Leads Roundtables on Fraud, Security and Anti-Money Laundering

Fraud-Fighting Strategies Shared Between Industry Leaders at EiG Copenhagen

PORTLAND, Ore. – March 5, 2009 – iovation, provider of the world’s first device reputation service for preventing online fraud and abuse, announces three interactive roundtable discussions on fraud, security and anti-money laundering (AML) to take place at the European i-Gaming (EiG) 2009 conference in Copenhagen, Denmark. On Wednesday, September 16th, iovation’s head of strategic markets, Rich Orcutt, will be leading a series of thirty-minute roundtable discussions focused on fighting fraud and money laundering, as well as creating a secure and trusted online experience for both gaming operators and payment services providers.

“Fighting fraud and money laundering is the ultimate social responsibility,” says Entraction Estonia Managing Director, Leonid Nezgoda, “The industry, as a whole, should stand together on the issue of zero tolerance for money laundering.”

Online gaming has long been a target of cyber-criminals. Gaming sites, with the combined characteristics of a bank, a casino, and a unique money transfer mechanism, are vulnerable to a variety of fraud types. A key issue faced by gaming operators is the unreliability of using player account and personal identity information to fight fraud. Identity theft has become so prevalent that it is trivial for an online criminal to create new accounts once their old account has been banned. Additionally, it is often extremely difficult to identify relationships between players who are cheating or defrauding the system. iovation has a long track record of addressing these problems and providing a means to establish associations between accounts and PCs that were previously invisible.

“The perception has been that fraud management systems affect business in a negative way by slowing down commerce. Yet it is absolutely intolerable to not manage fraud,” said Andy Lee, Ivobank Head of Fraud & Risk Management. “Using iovation’s approach, we are able to allow instant access to funds to our merchants with safety. This is a business enabler and allows us to target new customers with confidence.”

Don’t miss these exciting roundtables at EiG 2009.