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iovation Unveils How Data Science, Analytics and Device Identification is Used to Thwart Cybercrime

Upcoming Platinum Meeting Panel Discussion at Merchant Risk Council Europe Shares Real Experiences with Social and Physical Goods Fraud

PORTLAND, Ore. – September 11, 2012 – iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that it will be part of a panel discussion, “Data Science, Analytics & Device ID – Marketing Gimmick or the Next Big Thing?” at the upcoming MRC (Merchant Risk Council) 2012 Europe Platinum Meeting. Philippe Mazurier, iovation’s Southern Europe Sales Director, will unveil how online businesses effectively prevent fraudulent transactions and millions in losses using advanced device identification technology. Mr. Mazurier speaks alongside industry experts from Air France, Bazaarvoice and CyberSource. The panel will be held at the Radisson Blu es Hotel in Rome, Italy on September 14, 2012 at 11am Central European Summer Time. 

“With iovation’s device reputation technology stopping 50 million fraud attempts last year, the evidence is clear that device identification isn’t a marketing ploy, it’s a crucial part of any online business’s proactive and layered defense against cybercrime,” said Mazurier. “At the MRC European meeting we want to show merchants how they can take device identification much further—using it to uncover fraud rings, stop known fraudsters from harming their business, and proactively mitigate risk in real-time.”

Forrester Research Inc. detailed the value of device identification in a 2011 case study. It showed how a North American online retailer reduced its fraud losses by $1.8 million with iovation’s ReputationManager 360 service, by identifying card-not-present fraud through a combination of device identification, device reputation and real-time risk analysis.

The types of fraudulent transactions that iovation stops in the retail space include credit card fraud, identity theft, shipping fraud, account takeovers and more. Just last year iovation helped bust an identity theft ring in the United States that resulted in tens of thousands of dollars in fraudulent charges. iovation’s service tied together multiple devices that were used to commit fraud, which helped detectives identify more than a dozen additional victims.

ReputationManager 360 from iovation analyzes the behavior of more than one billion devices such as mobile phones, tablets and computers in its cybercrime intelligence network. By utilizing iovation’s device reputation intelligence gathered across its network of hundreds of customers and thousands of risk professionals, merchants can determine whether or not a device would be likely to conduct a fraudulent transaction. This unique iovation capability makes it possible to proactively identify devices that are associated with abuse and stop bad actors before they can strike.

For more information about MRC’s 2012 Platinum Meeting in Rome, go here.

About iovation

iovation protects online businesses and their end users against fraud and abuse through an 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 more than one billion devices from every country in the world. Every day, iovation stops over 150,000 fraud attempts. For more information, visit www.iovation.com.