PORTLAND, Ore. – July 2, 2012 – iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced the release of a new white paper entitled “Fighting Mobile Fraud.” The white paper details the increase in mobile device usage, the corresponding uptick in fraud originating from those devices, business and technical decisions to make regarding fraud risk, and how iovation’s device identification and reputation service helps businesses reduce credit card fraud, account takeovers and other abuses coming from mobile devices.
“According to newly-released statistics by Juniper Research, the value of mobile payment transactions is projected to reach almost 630 billion dollars by 2014,” said Scott Waddell, Vice President of Technology at iovation. “This is a huge boon for the mobile device industry, but also a huge opportunity for cyber criminals. As the attack surface expands in the increasingly mobile Internet, solutions that promote collaborative fraud mitigation across mobile apps and web transactions are helping businesses adapt to evolving threats while protecting consumers from identity theft.”
A key differentiator of iovation’s device reputation solution, ReputationManager 360, is its ability to recognize and include mobile devices in its vast network of device associations. In this complex “association network,” iovation associates groups of devices that are related to one another by looking at common account access for its customers. Knowing the network of associations helps businesses effectively identify fraudsters working in collusion and efficiently shuts down fraud rings at once.
While there are many options for device identification, iovation is the only provider of true device reputation. ReputationManager 360 exposes iovation’s unique view of Internet activity to deliver actionable intelligence about the trustworthiness of the individuals at the other end of an Internet transaction. In doing so, the service analyzes device attributes and anomalies, consumer history across a broad swath of industries, and the network of associations that have been built over time. Each transaction is processed, scored and returned with device and risk data including an allow, review or deny recommendation.
To download iovation’s white paper, go to https://www.iovation.com//mobile-fraud-whitepaper.
iovation protects online businesses and their end users against fraud and abuse through our industry-leading combination of shared device reputation and real-time risk evaluation. More than 2,000 fraud managers around the globe leverage iovation’s database of Internet devices and relationships between them to determine the level of risk associated with any type of online transaction. Retail, financial services, social network, gaming and other companies make real-time queries to iovation’s knowledge base of 950 million devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.