Just a few short months ago, a study from ACI Worldwide found that global Card Not Present (CNP) fraud rates rose 30% during the first part of 2015, compared to the previous year. And it’s not showing any signs of slowing
Even with the recent deadline (Oct. 2015) to implement EMV (chip-based) credit and debit cards, CNP fraud continues to be a painful thorn in the side of many issuers and merchants. All the while, the frequency of data breaches at major U.S. retailers is still climbing, as it's simply not easy for merchants to update to the new EMV standards and systems using their legacy point-of-sale (POS) terminals.
With this lack of security, there are simply more opportunities for fraudsters, who are increasingly pairing stolen identities/account credentials with sophisticated evasion methods. As a result, it’s nearly impossible for businesses to distinguish between the bad guys and trusted customers.
Given the dramatic rise of online and mobile transactions, it's no surprise that device fingerprinting has emerged as an effective tool in the fight against CNP fraud.
In a new webinar next week (April 27 at 7am and 10am PDT), entitled "Fighting CNP Fraud: 5 Things to Consider," our fraud-focused teammate, Eddie Glenn, will discuss why it’s important for retailers to utilize device intelligence to help detect fraud before a transaction, and how our Global Device Intelligence Platform delivers the device insight and fraud prevention management tools to do just that.
In this webinar, Eddie will cover:
- How you can effectively leverage deep device intelligence to fight CNP fraud
- Why it’s imperative to distinguish between user identity and device identity when fighting fraud
- What capabilities to look for when selecting a global device intelligence solution
We’re also going to be at the CNP Expo in Orlando, Florida May 23-26, so please be sure to visit us at Booth #107 so you can see first-hand how iovation is addressing the growing issue of CNP fraud with our customer authentication and fraud prevention solutions.
Our Global Device Intelligence Platform provides a tremendous amount of muscle to help our customers defend against CNP fraud, and you really need to see it yourself to appreciate what it can do.
We’ll see you in Orlando.