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Online Credit Card Fraud up 20% Black Friday to Cyber Monday

iovation released new data that shows card-not-present fraud increased significantly from Black Friday to Cyber Monday 2016 when compared to the same period in past years. Research shows a 20 percent increase in online retail credit card fraud during the 2016 holiday shopping weekend when compared to the same period in 2015, and a 34 percent increase in online credit card fraud from Black Friday to Cyber Monday 2014 to 2016.

Group Authentication Made Possible Through iovation Patent

iovation, a provider of device-based solutions for authentication and fraud prevention, has secured a patent entitled “Systems and Methods for Group Authentication.” The group authentication patent enables multiple parties in different locations to approve a transaction with their mobile devices. This can be accomplished through multiple device authentication methods like biometric fingerprint scan, verification of a PIN or pattern code, or geofencing.

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